Regulatory Approach to Anti-Money Laundering in Online Gambling in the UK

This chapter delves into the regulatory approach to anti-money laundering (AML) in the UK's online gambling sector, with a focus on the Gambling Commission's strategies and enforcement styles over the past decade. It begins by highlighting the lucrative nature of the online gambling market and the challenges posed by money laundering (ML) practices. The text then reviews the institutional setup of the AML regime in the UK, including the roles of the Gambling Commission and the National Crime Agency (NCA). It discusses the key priorities for gambling operators, such as customer due diligence (CDD) and the submission of suspicious activity reports (SARs). The chapter also explores the shift in the Commission's regulatory approach from a conciliatory style to a more punitive one, and the efforts to foster collaboration with the industry through initiatives like the Gambling Anti-Money Laundering Group (GAMLG). The analysis includes a discussion of the challenges and potential solutions for improving the effectiveness of the AML policy in the gambling sector. Overall, this chapter offers a detailed and engaging overview of the evolution and current state of AML regulation in the UK's online gambling market.