This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/uk-42583990
The article has changed 7 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
UK online casinos face money laundering probe | UK online casinos face money laundering probe |
(about 7 hours later) | |
Online casino operators are failing to prevent money laundering and protect problem gamblers, the Gambling Commission has warned. | Online casino operators are failing to prevent money laundering and protect problem gamblers, the Gambling Commission has warned. |
It has written to all 195 UK operators and warned them to review procedures. | |
Many were unable to spot signs of financial crime and compulsive gambling, it said. | |
It is investigating 17 companies, with five under licence review. If a company loses its licence, it would no longer be able to operate in the UK. | |
None of the operators under investigation has been named by the regulator. | |
'Vital action' | 'Vital action' |
A third of all gambling in the UK now takes place online, and the industry is worth billions of pounds. | |
But the commission is concerned that customers whose gambling is becoming compulsive are not being followed up. | |
It reviewed a large number of customer accounts and found "potential signs of problem gambling based on consumers' gambling pattern and spend", it said. | |
"In many cases, however, this behaviour did not trigger a customer interaction," it said. | |
It also said that some staff had little idea of how to spot money laundering - or, in some cases, even what it was. | |
All companies should ensure staff are trained in the law, and they should all carry out risk assessments - such as monitoring and risk profiling of customers - it said. | |
The commission's chief executive Sarah Harrison said the organisation was taking action to make the market "fairer and safer". | |
She added: "It is vital that the gambling industry takes its duty to protect consumers and keep crime out of gambling." | She added: "It is vital that the gambling industry takes its duty to protect consumers and keep crime out of gambling." |