The United Kingdom’s Gambling Commission (UKGC) announced the suspension of one of its licensees’ license amid an investigation due to suspected regulatory violations. The authority cited suspected lax anti-money laundering (AML) measures and violations of Great Britain’s social responsibility requirements as the chief reasons for the decision.
UKGC to Investigate Deadheat Racing’s Suitability
On November 21, the UKGC announced that it had suspended the operating license of Deadheat Racing amid a review of the licensee’s business practices. The suspension takes place with immediate effect.
The UK regulator explained that the review and license suspension follow concerns about Deadheat Racing’s AML measures and social responsibility protocols. The UKGC said that it suspects that the operator’s activities might have been carried out in breach of the conditions of its license. As a result, the authority will now investigate the matter to determine whether Deadheat Racing is suitable to hold an operating license.
Suspected social responsibility and anti-money laundering failings were key considerations in the suspension decision.
UKGC statement
The UKGC added that the operator has been clearly informed that it is expected to focus on “treating consumers fairly and keeping them fully informed of any developments which impact them” during the suspension.
UKGC Continues to Watch over the Market
In other news, the UKGC just hit Videoslots with a GBP 650,000 ($851,000) penalty for several anti-money laundering and social responsibility violations. The regulator identified multiple deficiencies, saying that the business relied on dysfunctional automatic systems for its compliance, resulting in problematic deposit limits and serious AML issues that avoided early detection.
The commission also reiterated its longstanding concerns regarding open-loop payment systems, since vouchers can be purchased anonymously or using crypto through third-party websites.
A month ago, the UKGC noted that it was monitoring hundreds of illegal gaming businesses. Despite the UK’s best regulatory efforts, some players have continued to play with offshore brands for a variety of reasons, including better bonuses and more lucrative bets. However, the UKGC reminded consumers that using the black market can cause significant harm as offshore brands do not need to play by the rules and, as a result, lack customary player protections.