UK GAMBLING COMMISSION SLAMS LICENSEES’ AML PROCEDURES AS “NOT FIT FOR PURPOSE”

On 9 December, iGB reported that the Gambling Commission has published its Compliance and Enforcement report for 2020/21, highlighting shortcomings in AML and social responsibility procedures by operators over the past year – caused by a prioritisation of profit over compliance.  The report cited a lack of due diligence as a major contributing factor to any failures regarding AML/CFT in particular.

https://igamingbusiness.com/gc-slams-licensees-aml-procedures-as-not-fit-for-purpose

https://www.gamblingcommission.gov.uk/news/article/gambling-commission-publishes-compliance-and-enforcement-report

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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