The UKGC has already issued close to £14 million in penalties and fines to just three companies, which have failed audits.
The UK regulator has issued fines to Daub Alderney (£7.1 million), which offers gaming content through various brands, Videoslots (£1 million), which, as the name suggests, offers slots, and Casumo (£5.85 million).
Another company, CZ Holdings, surrendered its license after it failed a UKCG review. In addition, the UKCG has issue 6 more Advice to Conduct [inspections] letters to other companies.
The commission is not limiting itself to issuing fines to only casino operators, but is taking the management teams to book as well. As a result, three senior management Personal License Holders have forfeited their licenses after being found responsible for not implementing the required regulations. Another two PMLs have been sent Advice to Conduct notices, four have been fined, and three are under investigation.
The UKCG issued the fines to the three companies for their failure to implement their policies and procedures.
Daub Alderney was fined for failure to comply with anti-money laundering regulations.
Casumo Services Limited was found to be in violation of its license regulations pertaining to money laundering prevention measures, and it did not comply with social responsibility required best practices.
Videoslots Limited was also found to be in violation of anti-money laundering regulations as well as management, notification and customer interaction breaches. The company’s £1 million penalty will be paid to the National Responsible Gambling Strategy (NSGS) projects.
The NSGS includes research and education projects, self-exclusion tools, treatment and counselling services, and preventative education.
The UKCG CEO, Neil McArthur, has explained that for a company to simply have policies in place is not enough. Those policies must be implemented and if they are not those responsible for doing so must be penalized. Operators must abide by the regulations as set out by the country’s lawmakers.
Operators are expected to view the regulations as the absolute minimum requirements, not treat them as the maximum. Gambling companies need to add additional conditions voluntarily to protect both their players and the gambling industry as a whole.