Compliance Updates
UKGC Imposes £780,000 Fine on Buzz Group
![](https://europeangaming.eu/portal/wp-content/uploads/2021/12/4-8.jpg)
Buzz Group, which operates buzzbingo.com, has been fined £780,000 by the UK Gambling Commission for failures relating to social responsibility and anti-money laundering procedures.
Buzz Group also received a formal warning for the failures which occurred between October 2019 and December 2020.
Social responsibility failures included: financial triggers not sufficiently identifying at-risk players as they were set too high. One customer was able to deposit £22,400 in five days without the operator conducting a meaningful interaction within that period.
Systems not sufficiently identifying at-risk players. Two customers won large amounts of money gambling, yet the operator failed to consider the increased risk of gambling harm to those customers despite the customers displaying high levels of spend.
Not carrying out effective customer interactions with customers who gambled aggressively over short periods of time. One customer deposited and lost £12,400 during a six-day period but the operator’s only record of a customer interaction simply stated customer was ‘coping well in COVID-19’once a decision to interact with a customer had been made staff did not always sufficiently follow the requirement of the operator’s own customer interaction procedure to check the customer was comfortable with their gambling levels, if they felt in control, and then discuss responsible gambling tools and support resources.
Anti-money laundering failures included: triggers prompting source of funds (SOF) checks being over reliant on open source or anecdotal information such as staff relying heavily on assurances provided verbally by customers during interactions.
In one instance the operator placed reliance on a large customer win as the SOF for the customer’s future gambling spend without considering that it might not be recycled winnings and that it may be the proceeds of crime
Multiple alerts needed to be activated before a customer AML interaction took place. One customer was able to hit nine financial alerts before their account was suspended pending an AML interaction. The operator keeping insufficient records of AML interactions with customers and it was often not clear what had been discussed during those interactions.
The case against Buzz Group Ltd, like other recent enforcement action, was the result of planned compliance activity.
Helen Venn, Commission Executive Director, said: “As a regulator we expect all operators to effectively implement policies and procedures which make gambling safe and crime-free. Every single gambling business should be aware that we do check that these are in place and are being adhered to. If they are not, we will take action.”
Dominic Mansour, Chief Operating Officer, Digital, Buzz Bingo commented:
“One of Buzz Bingo’s core values has always been to put players first and protect those that are vulnerable. Buzz Bingo is fully committed to ensuring it meets the highest standards of compliance across its digital platform buzzbingo.com, including its anti-money laundering and social responsibility obligations.
The fine from the Gambling Commission relates to legacy issues that have now been addressed. Buzz Bingo has reviewed and overhauled all its compliance measures and is confident that current policies and processes now meet the standards set. Moreover, Buzz Bingo has increased its current and ongoing investment to enhance all its risk and compliance processes to continually improve player protection.”
Compliance Updates
Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/curacaduioapdj.jpg)
The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.
This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.
In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.
Research Timeline and Data Relevance
The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.
Goals and Objectives
- Describe the information about the Curacao license and the issuing regulator.
- Describe the requirements and conditions for obtaining a Curacao license.
- Describe the costs and timelines for obtaining a Curacao license.
- Briefly study the market, find and suggest the following lists:
- Legal companies offering services for company registration and obtaining a Curacao license;
- Communication agents and integrators working with the Curacao license;
- Suppliers and vendors working with the Curacao license;
- Payment systems working with the Curacao license.
Key Topics Covered:
1. Goals and Objectives
2. Research Timeline and Data Relevance
- Document Markup
- Raw and Combined Data
- Terms & Glossary
3. General Information
- The Regulator
- Registration of Operators With Sublicense
- Application for an Online Gaming License
4. Requirements and Conditions for Obtaining a License
License Conditions
- General Prohibitions
- Safe and Secure Environment
- Equipment and Application Software
- Player Registration
- Payment Transactions
- Games
- Terms of Use
- Resolution of Complaints
- Administrative Responsibilities
- Publicly Available Information
- Reports
- Policies and Procedures
- Suspension and Revocation of License
- Additional Conditions
- Supervision
Recommendations or Minimum Requirements for the Business Plan
5. The Cost of the License
6. Decision Term and the Validity of the License
7. Application Method and Forms
8. Contact Information
9. Companies for Registration and Licensing
10. Integration Companies
11. Suppliers and Vendors
12. Payment Systems
13. META
14. Appendix: Terms & Glossary
For more information about this report visit researchandmarkets.com/r/izeo6g
Compliance Updates
Digitain Obtained Greek License
![Digitain Obtained Greek License](https://europeangaming.eu/portal/wp-content/uploads/2024/07/Digitain-Greek-License.png)
Digitain obtained the A1 Manufacturer’s License from the Hellenic Gaming Commission.
Digitain, a global leader in Sportsbook and iGaming solutions, has expanded its presence in European regulated market by obtaining a B2B license from the Hellenic Gaming Commission.
Iain Hutchison, Chief Revenue Officer of Digitain, said: “We are delighted that we have attained our B2B license from the Hellenic Gaming Commission. Digitain continues to expand across multiple regulated jurisdictions, and the Greek license is a further example of our vision and that of our teams’ commitment to regulatory compliance and the exemplary standards of our platform technology and focus as a company. We look forward to having our award-winning sportsbook and Centrivo platform and much more available within the Greek market as one of continental Europe’s largest and growing regulated markets.”
Compliance Updates
Hard Rock Casino NL turns to BetComply for Netherlands launch
![Hard Rock Casino NL turns to BetComply for Netherlands launch](https://europeangaming.eu/portal/wp-content/uploads/2024/07/11-3-e1721908582174.jpg)
BetComply, iGaming’s most trusted technical and regulatory compliance firm, has partnered with iCasino, securing a Dutch licence for their recently-launched Hard Rock Casino brand.
HardRockCasino.nl operated by iCasino b.v. under a brand licence agreement announced its Netherlands launch at the start of July, having worked closely with BetComply to secure a licence from the Dutch regulator de Kansspelautoriteit (KSA) in May.
The brand will continue to work with BetComply to ensure on-going compliance within the Netherlands framework.
iCasino CEO Paul Strikers said: “It’s hugely exciting to bring such a globally renowned brand to the Dutch market for the first time. We understood early on in the process that operator compliance needed to be one of our highest priorities, and that’s why we enlisted the help of BetComply and its unparalleled expertise in the Netherlands. We thank Mike and the team for their tireless and rigorous support on our successful licence application, and look forward to building upon this partnership in the future; the first step being the application for a sports betting licence.”
BetComply Chief Compliance Officer Mike de Graaff added: “The Netherlands market has attracted some huge international brands over recent months, underlining the opportunities on offer for those who build a deep understanding of their regulatory obligations. We’ve already helped more than a third of all licence holders in the country, and with the KSA taking a proactive approach across all elements of regulation, we’ll continue to support our partners, including iCasino, as market conditions evolve.”
With recent high-profile reports of serious misconduct within the iGaming compliance space, it has never been more important to pick a trusted and reliable partner, both in the Netherlands and elsewhere.
-
Eastern Europe5 days ago
7777 gaming is now available on WINBET Romania
-
Gambling in the USA5 days ago
Gaming Americas Weekly Roundup – July 15-21
-
Gaming5 days ago
MainStreaming Announces Appointment of Nicola Micali as Chief Customer Officer
-
Industry News5 days ago
Safer Gambling Tools Use Hits Record High in 2023 – New Report from EGBA
-
Australia5 days ago
Australian eSports Star Joins Team Liquid
-
eSports5 days ago
INSPIRED LAUNCHES RE-PLAY ESPORTS™ FEATURING CS:GO IN PARTNERSHIP WITH KAIZEN GAMING
-
eSports5 days ago
NODWIN(R) Gaming ropes in Android as title partner for BGMS Season 3; to be powered by Garnier Men
-
Latest News5 days ago
Spinomenal shines again with Super Wild Fruits release