• Gibraltar Regulatory Authority Gambling Division Phone Number
• Gibraltar Regulatory Authority Gambling Division New York
• Gibraltar Regulatory Authority Gambling Division Address
• Gibraltar Regulatory Authority Gambling Division Form

Gibraltar: Gambling Laws and Regulations 2021. ICLG - Gambling Laws and Regulations - covers common issues in gambling laws and regulations – including relevant authorities and legislation, application for a licence, licence restrictions, digital media, enforcement and liability – in 37 jurisdictions. The Gibraltar Financial Services Commission regulates the financial services industry in Gibraltar. Our aim is to protect consumers, enhance the reputation of Gibraltar as a quality financial services centre and promote good business. Remote gambling licensees must ensure that their gambling products and services have been tested and certified as compliant with Gibraltar's regulatory model and standards. Certain independent test houses have been approved by the Gibraltar Licensing Authority to carry out this function.

The Gibraltar Gambling Commission (previously called the Gibraltar Regulatory Authority) is home to a large proportion of the more reputable and well managed gambling companies operating online today. Situated off the southern coast of Spain in Europe, Gambling licensing has become one of Gibraltar’s biggest industries. Another, on a continuous basis, in accordance with both their respective procedures and regulatory policies. The Director General of the Swedish Gambling Authority, Camilla Rosenberg said that: “ Some of the companies that have received a Swedish license also have technical equipment and a license in Gibraltar.

Gibraltar Regulatory Authority Gambling Division Phone Number

The HM Government of Gibraltar has imposed fines totalling £2.5 million across its online gambling sector, having identified weak processes and controls related to ensuring AML protections.

The fines shared across the industry follow a ‘thematic review’ undertaken by Gibraltar’s Gambling Division undertaking risk assessment of AML and compliance duties.

In its assessment, the Gambling Division noted that operators had ‘worked collaboratively’ with its investigation to rectify ‘generic system weaknesses that are common to more than one operator’.

However, whilst AML risk-based controls improved incrementally, the Gambling Division recorded too many instances where ‘risk tolerances were too great and the timing on interventions was too slow or ineffective’.

One case reviewed, detailed that several operators had processed monies that had been stolen from an employer by an individual, who had fraudulently forged documents and provided false information in relation to their source of funds.

Gibraltar’s government has warned betting leadership to heed its warning with regards to AML duties, for which operators must ensure enhanced due diligence is carried out on customer verification and onboarding.

Furthermore, operators must ensure that they have all the technical controls and system capabilities to monitor all player accounts and transactions.

Gibraltar Regulatory Authority Gambling Division New York

Meanwhile, operational and customer service teams must be trained to a ‘commensurate level’ as a key requisite in upholding AML and social responsibility obligations.

Finally, operators must report suspicious activity in a timely manner in line with their obligations under the Gibraltar Proceeds of Crime Act 2015 (POCA).

Gibraltar Regulatory Authority Gambling Division Address

The Gibraltar government confirmed that fine proceeds totalling £2.5 million would be distributed to the ‘Gibraltar Gambling Care Foundation’ – to support the use of training initiatives at the Gibraltar University in AML and social responsibility by their employees.

Signing-off its statement, the Gibraltar government warned of the severity of the investigation’s findings, despite the Gambling Division choosing not to proceed with enforcement to POCA supervisory powers.

“Executive teams under the supervision of their Boards should ensure that internal risk assessments and reviews in this area take full account of the Gambling Commissioner’s expectations in this important area,” the government underlined.

Gibraltar Regulatory Authority Gambling Division Form

“The fact that this matter has not proceeded to the enforcement stage under POCA supervisory powers in respect of any single issue, does not mean that these powers will not be utilised in the future and the wider industry should heed the learnings detailed in this thematic review.”