This year we investigated a number of online casino operators who were found to have breached conditions of their licences in respect of AML and failing to comply with social responsibility codes of practice. This resulted in financial penalties being imposed alongside a warning and additional conditions to their licences.
Our investigations demonstrated repeated failings with AML policies, risk assessments and adherence to Money Laundering Regulations because operators did not:
The investigations revealed the lack of adherence to specific licence condition attached to the licence on 1 November 2014 and Licence Condition 18.104.22.168 - Anti money laundering measures for operators based in foreign jurisdictions. All online licensees are urged to revisit and digest these requirements.
Next section: AML healthcheck
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