GB: Training against money laundering

The “Betting and Gaming Council” (BGC) is strictly against money laundering with a training of its members. As the umbrella organization of the British gambling industry explains in an official press release, around 80 licensed gaming providers took part on the training day, which was organized by the “Gambling Anti-Money Laundering Group” (Gamlg). The event was the focus of the event, among other things, the joint exchange for money laundering prevention in the industry.

Common fight against money laundering

Money washing increasingly becomes a problem in the British gaming industry. In order to stop the negative development, the two associations founded “Association of British Bookmakers” (ABB) and “Remote Gambling Association” (RGA) in 2016. The organization has the task of gambling market in the UK to search through any form of money laundering And to intervene in the event of suspicion.

Löchrigen presence. With its founding year 2016, the GamLG is a still relatively young organization on the strong gaming market in Great Britain. Although it was launched by two established associations, it has no nationwide presence in the local industry. The association currently represents around 70 percent of licensed providers. Accordingly, the remaining 30 percent cannot be checked for potential money laundering activities.

With the recently organized training day, the BGC is pursuing the goal of supporting the GamLG in its efforts against money laundering. The umbrella organization called industry sizes such as William Hill, Betway, Playtech, Entain and Gentting, that To intensify engagement in this area. The training should be a first step to fight together against money laundering on the British gaming market at all levels.

Evaluation of different subject areas

Like from the BGC press release the full -time training has already taken place at the end of April. The event focused on Current topics in the area of money laundering control And their breakdown. In general, it was about an analysis of the status quo. The approximately 80 participants tried to find a common basis for future cooperation in order to take action against money laundering in the gaming sector with united forces.

Many different subject areas were evaluated during the training day. For example, it was about the risk assessment of activities that indicate money laundering or suggest. The topic was also proven measures in dealing with the risk of money laundering. Last but not least, the The license holders are questioned. It was primarily about the respective compliance guidelines.

Increase the standards. Even if money laundering in the British gaming industry is an increasing problem, in the government’s national risk assessment, the problem area is currently rather attributed to a minor damage potential. However, the BGC does not want to be put off by this. The umbrella organization said the background of the training day that criminal machinations have no place in the gaming sector. This also includes money laundering. It is due to the industry actors to increase current standards and to combat crime in industry together.

As part of the training, the exchange also included Defects of the various participants. Among other things, Claire Wilson, senior manager of the British gambling supervision UKGC, and Graeme Biggar, General Director of the National Crime Agency, addressed a few words to the plenary. Meanwhile, the “UK Financial Intelligence Unit”, which is targeting money laundering, provided professional input.

Minding words of the UKGC

Nevertheless, money laundering in gaming sector is considered a relatively low problem in a national context, the UKGC criticized the current handling and prevention of money laundering in the industry in a report from February. The gaming supervision directed warning words to the licensed gaming providers And reminded of the licensing conditions that must be observed.

Record penalty. The authority proved that the UKGC’s warning is not just hollow phrases last March. The renowned and well -known gambling group 888 was occupied with a juicy fine of around 9.4 million GBP – a record. The supervision of serious violations of money laundering and player protection gave as the reason for the draconian judgment.

In its criticism, the UKGC specified the areas in which it sees urgent need for improvement. Among other things, the industry is currently poorly positioned in terms of strategies, controls and procedures in order to act efficiently and sustainably against money laundering. In addition, the supervision denounced the DUE diligence tests of external providers and business relationships. The use of the Scottish currency as well as the Use of prepaid cards by customers represent a state in the eyes of the authority Rethinking on the British gaming market requires.

The future will show whether the UKGC’s criticism of the UKGC and the training day of the BGC/GamLG will have an effect in the fight against money laundering.