The Isle of Man Gambling Supervision Commission (GSC) announced that it has banned Phua Cheng Wan from gambling, preventing him from being associated with the industry in any capacity. The decision reflects the commission’s vow to shield the local industry from fraud.
Phua’s Ban Is Indefinite, Unless He Appeals It
In its announcement, the GSC noted that Phua is the ultimate beneficial owner of Boldwood Software Limited – a company that was licensed by the commission between November 21, 2022, and May 14, 2025. The GSC clarified that the operator surrendered its license after it received a Notice and an Enforcement Report from the regulator. The notice in question outlined the commission’s decision to consider the cancellation of Boldwood’s license.
The GSC explained that the action against Boldwood was caused by an investigation into Phua’s integrity and whether he was a “fit and proper person” per the Online Gambling Regulation Act 2001 (OGRA).
The investigation uncovered links between Phua and bad actors who were associated with crime. While Phua didn’t have a history of conviction himself, there was sufficient evidence that he had been associated with the aforementioned criminal elements.
In line with the Gambling Supervision Act 2010, which seeks to protect the gaming industry from crime and fraud, the GSC ended up banning Phua from the Isle of Man’s gambling sector. This ban means that Phya can no longer perform any role or function within the island’s regulated gaming space.
The GSC stated that the ban will remain in place indefinitely, unless Phua makes a successful appeal to revoke it.
The GSC added that Phua collaborated with the regulator, allowing it to conclude this matter quickly.
Isle of Man Pursues Enhanced Industry Oversight
The GSC has been working hard to protect the Isle of Man’s reputation amid increasing scrutiny. Earlier this month, the GSC introduced a public consultation regarding an important package of draft legislative reforms aimed at reinforcing industry oversight.
In addition to that, the regulator trained staff on recognizing signs of severe crime, such as human trafficking, helping them to identify and prevent it where possible.
Speaking of which, in May, the GSC published its National Risk Appetite Statement (NRAS), a publication that put the island’s commitment to preventing online gambling-related crime in the spotlight. The statement reflected the region’s growth as a licensing hub and the importance of keeping regulation up to date and implementing proportionate measures when dealing with higher-risk areas.