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UKGC: new licence conditions for Casino 36, with money laundering and social responsibility failures

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UKGC: new licence conditions for Casino 36, with money laundering and social responsibility failuresReading Time: 1 minute

 

Personal management licence holders at Casino 36 must undertake extra training as part of a £300,000 penalty package for money laundering and social responsibility failures.

A UK Gambling Commission investigation revealed the operator had failed to ensure adequate customer Enhanced Due Diligence (EDD), Source of Funds (SOF) and Source of Wealth (SOW) checks were carried out for 33 customers. Casino 36 also failed to ensure sufficient customer interaction was taking place when customers were potentially displaying signs of suffering gambling harm.

As part of a settlement the operator will divest £147,741 and make a £152,259 payment in lieu of a financial penalty which the Commission would otherwise impose for breaches of the Licence conditions and codes of practice. Casino 36 will also have further conditions added to its licence.

Richard Watson, Commission Executive Director, said: “As a result of Casino 36’s failings stolen money could have flowed unchecked through their casino and vulnerable customers were placed at risk of harm. This is simply not acceptable.

“Operators have to understand their customer base. This can only be achieved if they know their customers and ask the right questions to meet both their anti-money laundering and social responsibility obligations.”

Read the Casino 36 public statement here for more information.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: UKGC: new licence conditions for Casino 36, with money laundering and social responsibility failures

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Chief Information Security Officer Joins Continent 8

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Continent 8 Technologies, the award-winning, multi-jurisdictional global network and cloud infrastructure solutions provider, today announced that Brian Borysewich has joined Continent 8 as Chief Information Security Officer (CISO). Brian will bring four decades of experience in the industry to Continent 8’s Cyber security, network operations, and compliance teams.

Brian is a seasoned cyber security professional and has served in many roles from systems security administrator to the C-level suite. He has empowered Fortune 50 companies to secure their environments, has held leadership roles at both eBay and PayPal at their respective headquarters in Silicon Valley USA, as the principal cybersecurity architect.

Brian’s experience includes over 15 years within the United States government intelligence agencies. He is a former Black Hat and Anonymous hacker who has since used his experience to provide companies, governments, and educational institutions with methods and techniques to protect valuable assets and data. He has been a keynote speaker and mentor at various security conferences and panels.

“As a global leader that protects some of the world’s most valuable information, we take data security seriously,” said Michael Tobin, CEO of Continent 8. “Brian has been globally recognized as a cyber security practice leader. His accomplishments and leadership have helped companies and governments around the world protect both brand and financial resources. I look forward to working with him in these challenging, but exciting times, as businesses and nations enter ever increasing Cyber security attacks in size and velocity.”

Additionally, Brian has extensive expertise in iGaming, which will assist Continent 8 in serving its wide range of clients in that industry. A pioneer in early online gaming, he provided gaming site technology as early as 1995, when the first customers bet before the flurry of regulation. He served for four years as IGT’s Global Operations Solutions Delivery Architect and Manager.

Brian’s arrival supports the company-wide dedication to security that strives to keep client data safe, secure, and private across the global network and public cloud infrastructure on a regional, national, and global level.

Continent 8 is an award-winning, multi-jurisdictional global Cloud infrastructure solutions provider that connects, manages, and secures the world’s most valuable information. Its advanced data centers and high-quality networks support critical online operations in both private and public-sector organizations in over 50 locations across Europe, Asia, and the Americas.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Chief Information Security Officer Joins Continent 8

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Greece to Raise Tax Rates on Online Gambling

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The Ministry of Development in Greece has introduced a new proposal, which raises the costs for online gambling operations.

Permits for iGaming operations will cost €3 million (sports betting) or €2 million (online casino and poker). Greece demands online gambling licensees to pay a 35% tax on their gross gaming revenue.

Greece is soon to feature a casino resort. Two operators have already bid for the construction and operation of the facility.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Greece to Raise Tax Rates on Online Gambling

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Veikkaus Appoints New Supervisory Board Members

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Veikkaus, the gambling monopoly in Finland, has appointed new supervisory board members to amplify and raise the responsible gambling standards.

There are a total of 28 members on the board. 13 members are representatives of various political parties and 13 representatives of Veikkaus’ stakeholders. There are two representatives from Veikkaus’ employees. The board would be led by chair Jukka Gustafsson and vice-chair Jani Mäkelä.

The first six months of 2019 have not been great for the state-run Finnish Gambling monopoly Veikkaus. In its financial report, Veikkaus has posted a 6% decline in overall turnover during the first six months of 2019.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Veikkaus Appoints New Supervisory Board Members

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