UK Gambling Commission wants Operators to review anti-money laundering procedures

Tuesday September 8,2015 :  U.K. GAMBLING COMMISSION URGES OPERATORS TO REVIEW A.M.L. PROCESSES
 
Recommendation triggered by recent Rank Group investigation on money laundering.
 
Britain's Gambling Commission has recommended that operators review the efficacy of their anti-money laundering procedures following shortcomings at the Rank Group which emerged following an investigation at Meccabingo.com and Grosvenor Casinos, and the conviction of a customer on an AML charge.
 
In acknowledging flaws in its procedures, the Rank Group has agreed with the Commission on a review of its AML controls, to be led by an independent third party; improved AML education and training; and the divestment of GBP 950,000 in gross profits derived from the AML shortcomings.
 
The divested profits will be remitted to the Commission to cover the costs of the investigation, and to fund agreed socially responsible causes.