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Some More Online Casinos Regulations for UK

The UK has released some additional regulations that are important for all the internet gambling companies operating in the UK, or for UK players. The UK passed some extensive online casinos related regulations with the implementation of the 2007 Gambling Act that took effect in September. And though that Act failed to address money laundering guidelines, the UK Gambling Commission has released the new regulations related to money laundering and criminal activity in the land-based and online casinos industries.

The UK Gambling Commission is committed to making the UK one of the safest gambling jurisdictions in the world, and as a result, casino companies operating in the UK have some hefty obligations and regulations to live up to. In this case, the UK has passed a new regulatory document known as "The Prevention of Money Laundering and Combating the Financing of Terrorism." This document outlines new policies and regulations that the online casinos must comply with as a way to prevent money laundering and criminal activity through the internet gambling sites.

The new regulations came into effect on December 15, 2007, and are effective immediately. The Gaming Commission requires that the online casinos immediately begin to put policies in place that are outlined in the two regulatory documents, the Proceeds of Crime Act, and the Money Laundering Regulations. The documents are very thorough provide online casinos with specific and achievable systems and processes that must be in place to continue operating in the UK.

Last month’s new Money Laundering Regulations take the place of the previous Money Laundering Regulations developed in 2003.