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by Glenn Baird - November 29, 2018
Three online casinos have been fined by the Uk’s regulatory body, as the Gambling Commission looks to implement “effective safeguards” within the industry.
In total, nearly £14m has been taken from the three companies as concern continue to grow in the UK over the impact of online gambling.
Daub Alderney has been asked to hand over £7.1m, with Casumo having to pay £5.85m and Videoslots £1m.
But perhaps the most significant of all the measures has been handed to a fourth company, CZ Holdings, who have been forced to cease operating in the UK and surrender their UK gambling licence.
The chief executive of the Gambling Commission, Neil McArthur said the following in response to the fines:
“I hope today’s announcement will make all online casino operators sit up and pay attention, as our investigations found that a large number of operators and their senior management were not meeting their obligations,”
He went on:
“We expect operators to know their customers and to ask the right questions to make sure they meet their anti-money laundering and social responsibility obligations.”
The regulator found that Videoslots had not been stringent enough regarding their safeguarding policies, failing to follow up on the source of certain customer funding.
The Commission have stated that Videoslots have admitted to certain failings and that the operator is looking to rectify them.
The United Kingdom of Great Britain and Northern Ireland sits to the north-west of mainland Europe. The United Kingdom shares a border with The Republic of Ireland and has coasts on the Atlantic Ocean, Celtic Sea, North Sea, Irish Sea and English Channel. The population of the UK is approaching the 67.6 million mark leading to a fairly densely populated land mass. The gambling sector in the United Kingdom is entirely regulated and licensed by the UKGC – the United Kingdom Gambling Commission. Should players resident In the UK wish to gamble with foreign based operators there is no history of this being treated as a criminal offence, but high levels of protection exist for UK residents playing with UK licensed operators.
Disclaimer:
The above information is what we believe to be the the legal status of online gambling, however information on this topic is limited and hard to find. We accept no liability for any errors or ommissions. It is the reader’s responsibility to ensure that they know the legality of online gambling in their country before engaging with any online gambling service.