Compliance Updates
UKGC Imposes £6M Fine on Casumo
The UK Gambling Commission (UKGC) has imposed a fine of £6m on online casino firm Casumo for breaching anti-money laundering rules and failing to ensure that players were gambling responsibly.
Social responsibility failings included:
Not putting into effect policies and procedures for customer interaction where it has concerns that a customer’s activity may indicate problem gambling, and this resulted in:
One customer losing £1.1m over three years without being subject to a responsible gambling interaction.
A second customer losing £65,000 in one month without being subject to a responsible gambling interaction.
A third customer losing £76,000 over seven months without being subject to a responsible gambling interaction.
Not taking into account the Commission’s guidance on customer interaction, and this resulted in:
The operator not carrying out a responsible gambling interaction on a customer who lost £89,000 in a five-hour period.
The operator not carrying out a responsible gambling interaction on a customer who lost £59,000 in a 90-minute period.
Anti-money laundering failings included:
- Customers were allowed to deposit significant sums of money without sufficient AML checks being conducted.
- Source of Funds (SOF) checks were insufficient. Payslips and invoices presented as evidence of SOF were not corroborated with bank statements (or other evidence).
- Bank statements produced were not assessed appropriately. Examples include incomplete bank statements which only showed credits into the customer’s account. The balance figures on a customer’s bank statement had been redacted.
- Inadequate checks of documentation for authenticity.
- No assessment or limit of how much a customer should be allowed to spend based on known income, wealth or any other risk factors.
- Winnings from other gambling operators were accepted as SOF, without further investigation.
- Not ensuring that its policies, procedures and controls were implemented effectively, kept under review, revised appropriately to ensure that they remain effective and take into account any applicable learning or guidelines published by the Commission from time to time.
Also, Casumo has received an official warning and is now required to call in independent auditors to ensure that the firm is fully complying with the terms of their license and codes of conduct (LCCP).
“This case was brought about through planned compliance activity and every operator out there should be aware that we will continue to take firm action against those who fail to raise standards,” Richard Watson, Executive Director of UKGC, said.
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Booming Games, a rapidly expanding provider of iGaming content, has successfully secured a Danish Gambling Authority (Spillemyndigheden) license, marking a major milestone in the company’s efforts to broaden its presence across Europe.
Booming Games has officially secured its B2B gaming license from the Danish Gambling Authority (DGA), enabling the company to supply its renowned content to licensed gambling operators across Denmark. Danish players can now enjoy popular titles such as Burning Classics, TNT Bonanza, Cash Pig, Buffalo Hold and Win Extreme, and Gold Gold Gold.
This achievement marks a significant milestone in Booming Games’ strategic expansion into the European market. By obtaining the DGA license, the company strengthens its position as a leading iGaming content provider and unlocks new opportunities within the region. With the Danish license complementing its existing portfolio of certifications, Booming Games is poised to deliver outstanding gaming experiences to players throughout Europe.
Frederik Niehusen, Chief Commercial Officer at Booming Games, said: “We are excited to announce the acquisition of our full Danish B2B gaming license. This milestone further expands our presence in the fast-growing Danish market. It positions us to leverage our strengths and enhance our product portfolio to meet our customers’ needs better.”
The post Booming Games Receives Danish License Approval appeared first on European Gaming Industry News.
Industry-leading provider secures license to provide slots and live content in Denmark
Award-winning casino content provider Stakelogic has obtained a license from the Danish Gambling Authority, Spillemyndigheden, to provide its gaming content in Denmark.
The license will allow Stakelogic to bring its premium portfolio of online casino slots and live dealer content to the Danish market, including recent releases like Fire and Gold Cluster Breaker, Super Wheel Game Show, Trident of Legends, and The Watcher.
Stakelogic is able to partner up with leading Danish operators, establishing itself as a must-have provider in the country. The move further highlights Stakelogic’s commitment to strengthening its position in the European market and exploring new and exciting regulated markets.
The license also further cements the company’s presence in the Scandinavian markets, having secured a license from the Swedish authority, Spelinspektionen, in 2023 and establishing itself as a popular provider among Swedish players.
Denmark is one of Europe’s fastest-growing markets, with a strong focus on customer care and responsible gambling. Stakelogic is proud to have met all the requirements needed to obtain the license, highlighting its commitment to providing players with the best and safest gaming experiences.
Stephan van den Oetelaar, CEO at Stakelogic, said: “Denmark is one of the fastest growing markets in Europe, and we are proud to have achieved a license to the newly regulated market.
We are grateful to Spillemyndigheden for their support in us and we are excited to take our next steps into the market.”
The post Stakelogic Secures License to the newly regulated Danish market appeared first on European Gaming Industry News.
Charles Counsell OBE has been appointed as Interim Chair of the UK Gambling Commission (UKGC) for a nine month term which will commence on 1 February 2025.
Charles was Chief Executive Officer of The Pensions Regulator from April 2019 to March 2023. Prior to this he was CEO of the Money Advice Service, and Executive Director of Automatic Enrolment at The Pensions Regulator.
As CEO of The Pensions Regulator, Charles developed the new corporate strategy to put the pension saver at the heart of the Regulator. He delivered their first Equality, Diversity and Inclusion Strategy and Climate Change strategies – both focused on driving change in the regulator and across the Pensions Sector.
Throughout his career, his roles have focused on setting up and delivering large change programmes requiring significant stakeholder relationship engagement: initially in the private sector and latterly in senior public sector appointments.
The post UKGC Appoints Charles Counsell OBE as Interim Chair appeared first on European Gaming Industry News.
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