Connect with us
BGaming
Playson

Compliance Updates

CMA announces results of online gambling probe

Published

on

CMA announces results of online gambling probe
Photo Credit: PA
Reading Time: 2 minutes

 

The Competition and Markets Authority (CMA), the regulatory body responsible for competition and consumer enforcement in the UK, has released the report of the investigation that it started two years ago about the unfair practices in online gambling industry.

The main focus of the probe the options for players to withdraw their funds and CMA pressure has led to two more companies removing obstacles put in place to keep players money in the game, even when they are not interested in continuing to gamble.

Progress Play and Jumpman Gaming, two smaller UK online gambling operators, had set in place elaborate terms and conditions that would keep their players from withdrawing their funds if they had not logged in to their accounts within a certain amount of time or if they were too slow in proving their identity.

Unfair trade practices

In its guidance note, the CMA concluded that such practices were unfair in light of Part 2 of the Consumer Rights Act 2015 (CRA) and under the Consumer Protection from Unfair Trading Practices 2008 (CPRs) law.

At the beginning of the report explaining the investigation, the CMA outlined the key questions they were seeking answers for. Under the CRA, all contract terms must be fair and transparent, and the CMA was looking to see whether certain terms in online gambling contracts created “a significant imbalance, contrary to the requirement of good faith, to the detriment of the consumer.”

Under the CPRs the regulator was looking at possible “unfair commercial practices, in particular misleading acts or omissions” as well as “behaviour contrary to the requirements of professional diligence.”

Progress Play and Jumpman gaming now join a short list of other online operators including PT Entertainment Services, Ladbrokes and William Hill in adjusting their practices to fall into line with the CMA’s requirements.

Giants like William Hill, Ladbrokes and PT Entertainment had been involved in creating restrictions on players cashing out while using a casino bonus offer. While they were earning or using their bonus gamblers on these sites were prevented from cashing out or required to forfeit the proceeds they had earned off the bonus is they wanted their money. Such practices were deemed unfair trading practices by the CMA.

As a result, all of the firms have now adopted policies that reflect the flowing conditions:

“Promotional Play Restrictions and Wagering Requirements (if applicable) do not apply to any play by a consumer with their Deposit Balance except where ingame mechanisms automatically prevent a consumer from placing a wager that contravenes the Promotional Play Restrictions.”

In a nutshell, this is designed to ensure that a player may cash out even while the bonus is in play and that their request to withdraw funds from their own account will not void the bonus as operators are not prohibited from offering such terms and conditions.

The CMA pointed out that this method of sanctioning players who wish to withdrawal their own funds creates unacceptable and unfair pressure on players to continue to keep gambling even when they have decided they are no longer interested in doing so.

Sarah Gardner, Executive Director of the UK Gambling Commission stated, “We back the action taken by the CMA today. Gambling firms must treat their customers fairly and not attach unreasonable terms and conditions to their promotions and offers.

We expect all Gambling Commission licensed businesses to immediately review the promotions and sign up deals they offer customers and take whatever steps they need to take, to the same timescales agreed by the three operators, to ensure they comply.”

Source: usaonlinecasino.com

Advertisement Kasynos.Online

Compliance Updates

Northern Ireland Gambling Amendment Bill Reaches Assembly

Published

on

Reading Time: < 1 minute

 

New regulations for the gaming industry in Northern Ireland have been introduced this week in the country’s Assembly, significantly amending the current laws.

The Betting, Gaming, Lotteries and Amusements (Amendment) Bill creates new offences in permitting children to play gaming machines and provides powers to impose a statutory levy on gambling operators.

It establishes a mandatory code of practice for licence holders, broadens the definition of cheating to include attempted cheating, makes gambling contracts enforceable in law and permits bookmakers and bingo clubs to open on Sundays and on Good Friday.

The minimum age for minors to play a gambling machine is now 18 and it will become an offence to invite a person below that age to play. Previously, it was not an offence to permit an under-age person to gamble.

The statutory levy on gambling operators will be employed in a manner similar to the practice in England, where the money raised is used for community projects and treatment of problem gamblers.

An overhaul of online gambling legislation will form a second phase of the changes to Northern Ireland’s gambling scene and will follow after discussions.

Continue Reading

Compliance Updates

OKTO receives PCI DSS certification

Published

on

OKTO receives PCI DSS certification
Reading Time: < 1 minute

 

Confirming once again OKTO’s commitment to deliver high-quality, reliable, secure, and compliant service offerings to its customers, OKTO obtained the Payment Card Industry Data Security Standard certification

OKTO has received the Payment Card Industry Data Security Standard (PCI DSS) certification proving once more its continuous investment in leading and reliable technologies, adhering to high industry technological standards to offer enhanced security on consumer financial data and increased trust in the payment ecosystem. The fintech firm’s OKTO.WALLET solution meets all the requirements set forth as a Level 1 Service Provider, ensuring the security and protection of payment cardholder data.

Compliance validation of the OKTO solution involved the evaluation and confirmation that the security controls and procedures have been properly implemented as per the policies recommended by PCI DSS. According to the requirements formed by the international payment systems, Visa, Mastercard, American Express and other members, all entities that store, process, and ensure the transfer of data to their cardholders must comply with the unified PCI Data Security Standard.

John Zacharakis, CTO at OKTO, comments: “PCI DSS certification is a key step of our high-quality offering to our customers and commitment to the industry’s highest standards in the most regulated markets. OKTO meets the objectives of the PCI DSS and assures that its clients obtain a fully PCI DSS compliant services, adhering to high security technical standards which ensure the security of the network infrastructure, and apply required controls around cardholder data to minimize credit card fraud.”

Continue Reading

Compliance Updates

1400 Arrests, $8M Seized in Illegal Gambling at Euro: Interpol

Published

on

wagered.com
Reading Time: < 1 minute

 

An Interpol operation targeting illegal gambling during Euro 2020 led to 1400 arrests and the seizure of $7.9 million (6.7 million euros) in cash, the Lyon-based global crime agency reported.

Thousands of raids in Asia and Europe also resulted in the confiscation of computers and mobile phones connected to almost $465 million in bets.

“While most of us were watching the UEFA European Football Championship as simple fans, hundreds of specialized officers across 28 countries were targeting organized crime groups looking to earn millions from illegal gambling and related money laundering activities,” an Interpol statement read.

Hong Kong police detained more than 800 suspects, “including the alleged kingpin of a triad-controlled bookmaking syndicate,” the statement said.

In what was described as one of Hong Kong’s most successful operations ever they seized $2.7 million in cash and records detailing hundreds of millions in bets.

In Italy, home of the European champions at the pandemic-delayed tournament, Operation SOGA VIII inspected 280 betting shops and delivered 1.3 million euros in sanctions for illegal betting schemes.

In all, Interpol’s eight SOGA operations have led to more than 19,000 arrests, cash seizures of more than $63 million and the closure of over 4000 illegal betting dens.

Continue Reading
Advertisement
NSoft
Advertisement
EvoPlay
Advertisement
Kasyno Online na HEX Polska

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.