UKGC asks gambling websites to remove unfair withdrawal practices
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The United Kingdom Gambling Commission (UKGC) has issued an order that the British websites must remove unfair restrictions of money withdrawal or face action. The commission was reiterating the findings of a two-year study by UK’s UK’s Competition and Markets Authority (CMA).
CMA undertook the study following customer complaints about various types of withdrawal restrictions imposed by gambling operators.
“The CMA has been working in collaboration with the sector regulator, the Gambling Commission, to improve terms and conditions for players online and to help ensure firms do not break consumer protection law,” CMA said in a statement.
A key finding of the study is the practice of seising the players’ balances if their accounts lie dormant for a certain period of time. There were also cases where the balances were debited if players fail to provide proof of ID within a certain timeframe.
Some sites were also restricting the amount that could be withdrawn at a time, which the CMA concluded was simply an attempt to keep the customer gambling. Other companies were found to be imposing money laundering controls selectively, in order to delay withdrawals from winning accounts.
“Gambling firms should not be placing unreasonable restrictions on when and how consumers can take money out of their accounts,” said UKGC Executive Director Paul Hope. “We now expect all online operators to review the findings published by the CMA today and ensure they update their own practices.”
Source: casino.org
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