Crackdown On Casino Firms Sees 14 million Pounds In Fines

Crackdown On Casino Firms Sees 14 million Pounds In Fines ( Click to Enlarge )

The UK has seen a massive crackdown on online casino firms that haven’t set effective safeguards to prevent money laundering and harm to customers. The crackdown has resulted in three firms being fined almost £14m by the Gambling Commission. In fact, one of these firms is currently not allowed to operate in the UK as a result.

Which online casinos are being fined and negatively impacted? Here they are:

  • Daub Alderney (fine of £7.1 million)
  • Videoslots (fine of £1 million)
  • Casumo (fine of £5.85 million)

Unfortunately for some online gamblers, due to recent crackdowns, CZ Holdings recently surrendered its license to operate in the United Kingdom.

The Good News

While online casinos receiving hefty fines and being suspended in the UK can be a sad and inconvenient disappointment for many avid gamblers, it also means good news for them. The recent crackdown is making operators pay more attention to their services to ensure that obligations are being met and that the gamblers themselves are being safeguarded and protected.

According to Neil McArthur, who is the chief executive of the Gambling Commission, casino operators are required to:

  • Know their customers by asking the right questions
  • Ensure that they set precautions in place to safeguard against money laundering
  • Meet with their social responsibility obligations

Some problems found by the Gambling Commission included:

  • Some casinos initially make inquiries into the source of customer funds, but then later fail to continue these checks.
  • Some casinos allowed gamblers to access systems and gambling even after failing automated identity checks.
  • In one instance, a gambler was using a fake driving license which was undetected.
  • Multiple fraudulent credit cards were found being used.
  • Some casinos had customers showing signs of “problem gambling” and nothing was done about it.

All three casino operators have accepted the fines imposed and implemented tighter security measures.

It is hoped that with stringent crackdowns and requirements in the industry, loyal online casino supporters will feel safe and protected. It is also hoped that online crime will be greatly reduced, especially in the online casino field.