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UKGC asks gambling companies to tackle money laundering

Niji Narayan

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UKGC asks gambling companies to tackle money laundering
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The UK Gambling Commission (UKGC) has strengthened its stance against money laundering and urged gambling companies to step up the fight against money laundering and terrorism financing. The regulator asked the companies to strictly adhere to the clauses in Gambling Act 2005, which states the principles licensees are subject to when operating in the UK.

“Using the money in casinos, regardless of the amount, that is the proceeds of any crime, can amount to money laundering if the person using or taking the money knows or suspects that it is the proceeds of crime,“ the Commission writes in its document “The prevention of money laundering and combating the financing of terrorism: Guidance for remote and non-remote casinos. Money-laundering offences can be committed by both the customer and casino employees, depending on their respective levels of knowledge or suspicion.”

Regarding operators’ responsibilities, the UKGC quoted the three licensing principals they must uphold as required by the Gambling Act 2005: “To prevent gambling from becoming a source of crime or disorder; that no operator can be associated with criminal activities; ensuring that no operator’s business structures or products can become a mechanism for supporting crime.”

“Senior management must be fully engaged in the processes for a casino operator’s assessment of risks for money laundering and terrorist financing and must be involved at every level of the decision making to develop the operator’s policies and processes to comply with the Regulations,” the Commission stated and warned: “Disregard for the legal requirements, for example, turning a blind eye to customers spending criminal proceeds, may result in criminal or regulatory action.”

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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TÜV Thüringen Certifies Sportradar AG’s Customer Care Unit for ISO 9001:2015

Niji Narayan

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TÜV Thüringen Certifies Sportradar AG’s Customer Care Unit for ISO 9001:2015
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Sportradar AG, the world’s leading sports data analyser, has obtained the International Organisation for Standardisation (ISO) norm 9001:2015 from TÜV Thüringen for its global customer care unit. Sportradar AG’s customer care unit won the award for ‘Best Customer Service’ at last year’s EGR B2B Awards. It has been ISO-certified since 2014. The latest audit confirms the flawless Quality Management System (QMS) of Sportradar AG’s global customer care unit that delivers Customer Support, Certification Services and Technical Integration Support to Customers of Sportradar AG matches the ISO norm 9001:2015.

“Embarking in this direction and successfully passing the certification demonstrate our continued commitment to the highest global standards in customer service, operational excellence and quality management across all Sportradar entities,” said Daniel Rossmann, Director of Customer Care at Sportradar AG. “To be recognised with this internationally respected certification and have it renewed multiple times already demonstrates a great team effort which I am truly proud of.”

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Portugal Reviews Gambling Tax Regime

Niji Narayan

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Portugal Reviews Gambling Tax Regime
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The government of Portugal has started the review of its existing gambling tax regime. The government has appointed a working group for analysing the state of the country’s online gambling industry and finding any possible changes required in the system. The working group comprises six members, including representatives from SRIJ and Portugal’s Ministries of Finance, Economy, Tourism, and Labour. They have to submit their findings and proposals within 30 days.

The existing gambling law in the country came into force in 2015. The country’s gambling regulator Serviço de Regulação Inspeção de Jogos (SRIJ) first licensed a foreign company in May 2016, which started a new era in the provision of regulated gaming and betting services to Portuguese customers. The regulatory body has issued a total of 16 licenses since then.

While the reorganisation of Portugal’s market was generally welcomed by EU authorities and industry stakeholders, the country’s taxation regime was heavily criticised and rates were deemed too high to offer viable prospects for the nascent market.

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Irish Gaming Startup WarDucks Obtains €3.3 Million Funding

Niji Narayan

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Irish Gaming Startup WarDucks Obtains €3.3 Million Funding
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WarDucks, a Dublin-based augmented reality (AR) gaming startup, has raised a funding worth €3.3 million from EQT Ventures, which offered the funding with participation from Suir Valley Ventures and other investors. The startup will develop a location-based mobile AR game using the funds.

Nikki Lannen, who had worked in Facebook’s gaming department, founded WarDucks. He has added an excellent team comprising Doug Kaufman, the game designer behind Civilisation II and Frontierville, John Romero, pioneer of the first person shooter (FPS). The company has already developed some niche games for the segment.

EQT Ventures mentioned in a press release that WarDucks was first discovered by Motherbrain, the company’s AI-powered deal sourcing platform.

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