Tag Archives: AML

David Clifton: Licensing Expert – A potentially lethal parting shot

Sarah Harrison departs from her position as Chief Executive of the Gambling Commission at the end of February 2018. Before she goes, she is leaving a potentially lethal parting shot for a substantial number of operators within the gambling industry.. I am referring to the Commission’s letter sent to all of its licensed online casino operators on 4 January, in which …

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Kompli-Global provides 4th AMLD support for gaming operators

Kompli - Copyright: garagestock / 123RF Stock Photo

Kompli-Global has developed a tool to help companies deal with the more time-consuming customer due diligence challenges of the 4th Anti-Money Laundering Directive (4th AMLD). The 4th AMLD, which came into force on 26 June, includes a specific mention for the online gaming industry, where operators must perform more exhaustive checks on adverse player information. Backed up by a team …

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UKGC wants operators to get tough on customer ID checks

Issuing an industry update, the UK Gambling Commission (UKGC) has reminded operators that if they only request identity documents when a customer withdraws their funds, they could be putting their business at risk of failing to meet anti-money laundering (AML) and social responsibility standards thus breaching the conditions of their licence. The UKGC details that it is concerned following a …

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W2 accelerates expansion plans after securing new investment

W2 - Copyright: lcs813 / 123RF Stock Photo

W2 Global Data (W2) has secured a series A investment to fund the expansion of its sales, marketing and technical capability in the UK and international markets. The provider of Software as a Service (SaaS) products for the Know Your Customer (KYC), Anti Money Laundering (AML) and fraud prevention due diligence markets, has received the largest ever Growth Fund investment …

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New UK anti money laundering watchdog OPBAS to be set up by 2018

The UK Government is set to get tougher on money laundering and criminal financing activities by creating new watchdog the ‘Office for Professional Body Anti-Money Laundering Supervision’ (OPBAS).  The body will act alongside the UK Financial Conduct Authority (FCA), as the government seeks to introduce new, stricter money laundering regulations to meet global finance standards. The government will aim to set …

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David Clifton – Licensing Expert – The General Data Protection Regulation

With ever increasing compliance responsibilities pursuant to the Gambling Commission’s LCCP and more soon to arise on implementation of the 4th Money Laundering Directive, betting operators might be forgiven for thinking that there was a limit to the extent to which even more onerous regulatory burdens could be heaped upon them in the near future. However, even greater focus on …

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Time for bookmakers to wake up and smell the coffee on AML rules

Licensing expert David Clifton, of gambling consultancy Clifton Davies, takes a look at the recent movement by the regulator to tighten up money-laundering processes and doesn’t see any good news for bookmakers. The recent publication on the Gambling Commission’s website of a public statement highlighting failures in Paddy Power’s anti-money laundering (AML) and social responsibility processes is the latest in what …

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UKGC – Rank Group investigations show need for greater AML controls

The UK Gambling Commission (UKGC) wants UK operators to critically review the effectiveness of their policies and procedures with regards to anti-money laundering (AML) and customer protections. The UKGC has urged operators for stricter reviews and practices following the completion of an investigation of AML policies at Rank Group subsidiaries Grosvenor Casinos and meccabingo.com, prompted by the conviction of money …

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