Gambling Commission will overhaul licensing laws to axe money laundering
UK operators could see their licence conditions changed after the Gambling Commission announced a plan to overhaul the 2005 Gambling Act in a bid to cut out crime linked to gambling.
The Commission is marking the law’s 10-year anniversary by mulling over proposed regulation changes as it tries to eliminate money laundering and distance the industry from criminal activities.
It has launched a consultation into the regulation changes and invited operators and punters to have their say by downloading a form on its website.
A spokesperson for the Gambling Commission said: “Advances in technology and changes in consumer preference are posing new challenges to keeping crime out of gambling, but also offering new solutions to the problems.
“The consultation proposes a number of specific changes to licence conditions in the light of experience – for example, requiring all operators to assess the risk of their business being used for money laundering. It also invites informed public debate on other emerging issues, such as the use of digital currencies in gambling.
“This consultation offers an opportunity for everyone to have their say on a series of critical questions. We expect that licensees will want to share their own experience and good practices in order to help keep gambling crime free.”
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