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UKGC will introduce amendments to prevent gambling crime

The UK Gambling Commission will make several chances in order to help prevent gambling related crimes.

UK.- The changes introduced by the UK Gambling Commission (UKGC) will come into effect from October 31. Among the amendments it’s included the requirement for all licensees to report the criminal investigations that they’re currently involved in and the gambling commission will have the power to question if the measures to prevent crime have failed or not.

UKGC will also ask the licensees to assess and manage the risk of their business being used for money laundering and terrorist financing. Brands based in foreign jurisdictions will also be subject to this requirement. Operators will also need to have effective procedures in place for handling both cash and equivalents.

In a statement, the UKGC said: “Licensees should require their employees to report irregular/suspicious betting patterns, prohibit employees from placing bets using information relating to these patterns, and include in their customer terms and conditions that the customer must not be in breach of relevant sports governing body or other rules.”

Executives from the gambling commission said that the most effective regulatory approach is to focus on the outcomes they expect the operators to achieve and that their goal is for licensees to take different approaches to meet their requirements.

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