Compliance Updates
UKGC: Licence Suspension and £3.8M Fine for Genesis Global Limited
![](https://europeangaming.eu/portal/wp-content/uploads/2022/01/1-10.jpg)
Britain’s gambling industry is being warned that the Commission “will use all tools at its disposal to ensure consumer safety” following enforcement action involving suspending an online casino from operating and then fining it £3.8m.
Genesis Global Limited – which runs 14 websites including genesiscasino.com, casinoplanet.com and casinocruise.com – has also been given a warning by the Commission and told it must undergo further extensive auditing.
The operator was suspended from operating in Britain after enquiries revealed significant social responsibility and money laundering failures.
Three months later (14 October 2020) the suspension was lifted following significant compliance improvements but the Commission’s investigation continued and now concluded with a £3.8m fine, a warning and an additional licence condition demanding further auditing.
Helen Venn, Commission Executive Director, said: “All gambling businesses should pay very close attention to this case.
“The Commission will use all tools at its disposal to ensure consumer safety and that extends to stopping a business from actually operating.
“Failing to follow rules aimed at keeping gambling safe and crime-free will never be a viable business option for gambling businesses in Britain.”
Social responsibility failures included:
- not carrying out any meaningful responsible gambling interactions with, or placing any effective restrictions on the account of, a customer who spent £245,000 in three months. Three days into their relationship Genesis knew the customer was an NHS nurse earning £30,000 a year
- not carrying out any meaningful responsible gambling interactions or establishing affordability of a customer who lost £197,000 over six months. The same day the customer closed her account, stating she wanted to spend more time with her family, she was allowed to open another account with the business and deposit £200
- not carrying out any meaningful responsible gambling interactions or establishing affordability of a customer who lost £234,000 in a six week period.
Money laundering failures included:
- requested source of funds only after one customer had lost £209,000. Prior to this Genesis had estimated the customer was earning £111,000 a year because the consumer had told them they were a director and this was the average salary of directors in London. The operator failed to take into account the company was dormant and that there would be a wide range of director salaries. Genesis also failed to verify information supplied by the customer to substantiate the level of spend
- a customer was allowed to deposit over £1,300,000 and lose £600,000 before carrying out sufficient source of funds checks. The customer provided Genesis with documentation including a bank statement which showed deposits into the account to the value of £23,000 and payments out to the value of £27,000 – clearly not enough to support the level of gambling
- a customer was allowed to lose £107,000 over six months without carrying out sufficient source of funds checks. Genesis relied on assertion that the customer’s money came from an allowance from parents who owned factories overseas and failed to verify this information. The customer provided a number of bank statements, however, they did not evidence any source of income but did show transactions with other gambling operators.
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.
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