UKGC issues money laundering warning to operators

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.

“I believe authorities are very worried about this as it’s incredibly difficult to track money on the web and gambling sites,” said University of Buckingham security expert Prof Anthony Glees. The commission is putting all of its efforts into preventing these illegal activities from happening and therefore has called for more staff training and vigilance from its executives.