William Hill, the British gambling company now owned by 888 Group, has been issued a record £19.2m fine by the UK gambling regulator.
Casinos and Gambling
Regulation & Compliance Services for Casinos and Gambling
Casinos and Gambling, as money businesses, come under scrutiny for regulatory purposes and must establish effective policies, controls and procedures to effectively manage compliance and risk.
Importantly, Casinos and Gambling businesses carry a high risk of money laundering, and regulation is essential. It is part of the Gambling Commissions’ authority to regulate Casinos and Gambling businesses.
The Gambling Commission regulates arcades, betting, bingo, casinos, gaming machine providers, gambling software providers, lottery operators, external lottery managers and remote gambling businesses (online and by phone) that use British-based equipment.
At AML & Compliance, we work with such businesses to build and maintain a compliant infrastructure with both bespoke drafted policies and procedures alongside ongoing support and advice.
Our compliance services for Casinos and Gambling include:
- Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance
- GDPR and Data Protection compliance
- Bribery Act 2010 compliance
- Treating Customers Fairly compliance
- Employment Regulations compliance
- Complaint investigations, management and handling
- Regulatory investigations
Details of the services we provide are contained on our services page, which you can review to obtain detailed information on how we work with Casinos and Gambling businesses.
It is a regulatory requirement for most businesses operating in the regulated sector to carry out an ‘Independent Audit of Anti-Money Laundering (AML) Policies, Controls and Procedures’ to comply with Regulation 21 of the Money Laundering Regulations 2017.
The Financial Conduct Authority (FCA) has issued a final warning to cryptoasset firms marketing to UK consumers, and those supporting them, to prepare for the new financial promotion regime.