UKGC announced that it has handed out millions in fines

Top Casino Bonuses
Rank Logo Bonus Review Play
CasinoEuro Logo €150
PlayAmo Casino Logo €100
Royal Panda Logo €100
888Casino Logo €140
Oranje Casino Logo €100

Three iGaming operators have been dealt a hefty blow by the UK Gambling Commission, which isn’t a great start to the festive season. Online casino companies and their senior management have come under fire from the gambling regulator, after carrying out an investigation into problem gambling and money laundering.

Millions in Fines and a Gambling License Revoke

Almost £14,0000,000 will be paid by three gambling companies, which is a substantial amount – but what is it for? The UKGC say that the fines come as a “result of their failings to put in place effective safeguards to prevent money laundering and keep consumers safe from gambling-related harm.”

Previously announced, Daub Alderney was ordered to pay £7.1m and now, Casumo Casino has been ordered to pay £5.85m. VideoSlots Casino as also been subjected to a fine; £1m in lieu of a financial penalty.

Licensed Revoked and Warnings

Clamping down on rogue companies, the UKGC has ordered CZ Holdings to surrender its license, which means it will no longer be able to provide gambling services in the UK. Nine other gambling operators have been issues with Advice to Conduct letters and there are six other iGaming companies still under investigation!

There Personal License Holders (PLH) have surrendered their licenses, a further four have had warning letters plus two have been sent Advice to Conduct letters. Three others are still under investigation!

The UKGC CEO, Neil McArthur said;

“I hope today’s announcement will make all online casino operators sit up and pay attention, as our investigations found that a large number of operators and their senior management were not meeting their obligations. It is not enough to have policies and procedures in place. Everyone in a gambling business must understand its policies and procedures and take responsibility for properly applying them. We expect operators to know their customers and to ask the right questions to make sure they meet their anti-money laundering and social responsibility obligations.”

He continued;

“Anyone in a position of authority needs to be aware that we will not only act against businesses when we take regulatory action – we will also hold individuals to account where they are responsible for an operator’s failings.”

Secretary of State for Digital, Culture, Media and Sport, Jeremy Wright said;

“Any online operator that thinks it can ignore its duty to protect players should take note today – there will be consequences. Protecting vulnerable consumers is our prime concern, and it must be the priority for gambling operators too. There are robust requirements to safeguard players and prevent money-laundering which all businesses must adhere to if they wish to operate in the British market. I am pleased to see the Gambling Commission taking the strongest possible action when companies fail to meet their obligations.”