Issuing an industry update, the UK Gambling Commission (UKGC) has reminded operators that if they only request identity documents when a customer withdraws their funds, they could be putting their business at risk of failing to meet anti-money laundering (AML) and social responsibility standards thus breaching the conditions of their licence.
The UKGC details that it is concerned following a where they have found operators to only request IDs at the point of customer withdrawals. The commission states that operators need to engage further on security and compliance matters with their customer base, in order to minimise money laundering risks and improve social responsibility measures.
Sharon McNair, Programme Director at the Gambling Commission commented on the matter: “Gambling firms must ensure customers are not disadvantaged by the operator’s approach to requesting customer information.
“Different consumers have different levels of risk, and this must be managed by the operator. It is this level of risk that should drive engagement with the customer for both social responsibility and AML purposes.
“We urge operators to review their risk assessments and processes to ensure they are meeting their AML and social responsibility obligations. This means assessing the ongoing risks as the relationship progresses with the customer, not just at withdrawal stage.”
Source: SBC News
