Key points:
- The event brought together over 100 industry professionals, regulators and law enforcement representatives to address anti-money laundering challenges
- For the first time, the training event was open to non-BGC members to promote broader industry collaboration
- A BGC study found that 1.5 million UK adults gamble on illegal platforms, contributing up to £4.3bn annually
Grainne Hurst, CEO of the Betting and Gaming Council (BGC), opened the annual Gambling Anti-Money Laundering Group (GAMLG) training event by emphasising the importance of collaboration in tackling financial crime while warning of the increasing threat posed by the illegal gambling black market.
The event, first launched in 2022, brings together key figures from the regulated betting and gaming sector, law enforcement and financial crime experts. Attendees included representatives from the Gambling Commission, HM Treasury, the UK Financial Intelligence Unit and the Regional Economic Crime Unit at West Midlands Police.
Hurst highlighted that the industry must remain proactive in preventing criminal activity within the regulated market while recognising that black market operators continue to exploit vulnerabilities.
Good to know: A recent BGC study found that 1.5 million adults in Britain engage with illegal gambling platforms, contributing up to £4.3bn ($5.34bn) annually to the black market
Hurst stressed that a collective effort is necessary to mitigate these risks, noting that GAMLG is actively working on a new AML code to further raise industry standards without compromising player safety.
GAMLG Chair Keith Bristow echoed these sentiments, commending the sector’s commitment to preventing money laundering and fraud through collaborative efforts with regulators, law enforcement and government agencies.
This event follows recent discussions between the BGC and the UK Government regarding gambling reforms. In November 2024, while supporting the proposed mandatory levy and stake limits, the BGC expressed concerns about the government's approach.
