Implement numerous measures to lift industry standards
The UK Gambling Commission (UKGC) has introduced new regulations in which all online operators are required to provide British consumers the same tools to monitor and make informed decision on their own gambling activity.
Under the regulations, remote operators must:
– ensure consumers can directly access 3 months’ worth of account and gambling information, and a minimum period of 12 months on request;
– ensure account and gambling history are provided in an easy to understand format for a defined period; and
– allow consumers to set financial limits across their entire gambling account as well as individual games.
“The findings of our recent consultation indicate that there are differences in approach amongst licensees in relation to the level of information available to their consumers and the ease by which that information is accessible,” Sharon McNair, programme director at the Gambling Commission said.
“The new requirements seek to address this and ensure greater consistency in the information available to consumers regardless of who they choose to gamble with.”
The regulations, which will come into force on April 1, 2018, can be accessed here: http://www.gamblingcommission.gov.uk/for-gambling-businesses/Compliance/Sector-specific-compliance/Remote-and-software/Remote-gambling-and-software-technical-standards.asp
In addition, there are a number of other new requirements, one of which concerns information displayed to players which will come into effect October 1, 2017.
“Innovation and technological advancement continues to drive growth in the £4.5billion a year online gambling market,” McNair added. “We are seeing operators developing new gambling products and technologies every day – something that it is vital to the further advancement of the sector.
“But as the industry transforms, operators are reminded that we too will continue to adapt our regulation to raise standards across all gambling sectors and enhance the protections available for consumers.”
This is the latest in a line of revised and updated requirements. Last week, the UK Government published The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 which came into effect on 26 June 2017.
These regulations followed a period of transposition of the EU 4th Money Laundering Directive and replace the previous Money Laundering Regulations 2007.
“We are currently in the process of revising our anti-money laundering guidance to reflect the new Regulations – operators are reminded they need to take their anti-money laundering responsibilities seriously and implement the necessary changes,” Richard Watson, programme director said.
“Operators will be invited to feedback on the proposed changes to our guidance (The Prevention of Money Laundering and Combating the Financing of Terrorism – guidance for remote and non-remote casinos) via a consultation.
The official Government press release can be read here: https://www.gov.uk/government/news/crack-down-on-terrorist-and-criminal-financing