Updated Casino Regulations in the United Kingdom

Updated Casino Regulations in the United Kingdom

#AML #UnitedKingdom #CasinoRegulation

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August 29, 2023
5 Minutes

Updated Casino Regulations in the United Kingdom

Understanding the regulations for casinos in the UK How can MemberCheck help?

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The casino regulations in the United Kingdom were updated on the 7th of June 2023, in accordance with the release of the third version of the fifth edition of the Prevention of Money Laundering and Combating the Financing of Terrorism Guidance by the UK Gambling Commission. Casino operators are advised to review the latest edition of the guidelines and ensure the integration of these changes into their risk assessments, rules, procedures, processes, and training.

Understanding the regulations for casinos in the UK

The Gambling Commission is responsible for administering and enforcing the Gambling Act 2005, which is the primary legislation regulating most forms of gambling in the country. It serves as the regulatory agency for all gambling operations in the UK. Under the Gambling Act of 2005, all casinos operating in the United Kingdom are required to obtain a license from the Commission. To obtain a license from the Commission, operators must adhere to strict casino regulations that address security and safety, fair play, anti-money laundering, and other essential aspects of casino operations.

The updated guidance on casino regulations describes the obligations and options for compliance that casino operators must follow in accordance with the laws governing money laundering, terrorism financing, and proliferation financing. The Act establishes the Commission as the supervisory authority for casinos, granting them the power to provide guidance that assists operators in meeting regulatory requirements. This Act applies to both remote and non-remote gambling conditions and has received approval from HM Treasury. Consequently, this guideline encompasses all aspects of gaming law in the UK.

The updated casino regulations are as follows:

  1. Conducting a risk assessment to identify and evaluate the risks associated with the casino's business in terms of proliferation financing is a requirement.
  1. Putting in place and maintaining policies, procedures, and controls to reduce and manage the risks associated with proliferation financing is mandatory.
  1. Implementing staff training in relation to proliferation financing, as well as money laundering and terrorism financing, is required.
  1. The nominated officer must be involved in developing a risk-based strategy for the prevention of money laundering, terrorism financing, and proliferation financing.
  1. Any casino employee who acquires knowledge or reasonable suspicion related to money laundering, terrorist financing, or proliferation financing is required to make an internal report to their nominated officer.
  1. Managing and mitigating risks in any business relationship with a customer from a high-risk developing country, or in transactions where Customer Due Diligence (CDD) measures are necessary and either party is a resident of a high-risk developing country, is necessary.

How can MemberCheck help?

MemberCheck offers sophisticated solutions that help casinos, along with the other regulated businesses, comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. Utilising our up-to-date database, casinos can effectively screen their customers, performing thorough due diligence checks to detect any potential dangers or questionable activity. Our advanced software automates the process by assessing vast amounts of data and producing detailed reports that highlight any red flags.  

More information regarding AML/CTF requirements for casinos can be found here.

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