UKGC issues money laundering warning to operators


October 30 2018

The UK Gambling Commission has issued a warning to gambling service providers to be aware of the possibility of extremist groups using racing and football bets and online bingo to fund their activities. The regulator in its warning noted that extremists could be using fake IDs to launder money.

The fact that “customers not being physically present for ­identification purposes” could mean that there is a higher risk of laundering. The commission informed the gambling companies that customers from high-risk jurisdictions or those who appear on international sanctions lists are a threat to the operators’ systems.