The UK Gambling Commission (UKGC) has announced the suspension of the operating licence No.002823-R-103864-012 of the bookmaker Goldchip Limited as a result of a review that the watchdog carried out under section 116 of the country’s Gambling Act 2005.
The UK gambling regulatory body revealed that it decided to suspend the gambling company’s operating permit following a review triggered by some concerns that Goldchip Limited may have been carrying out some of its services and activities in violation of the Act. The Gambling Commission also said that its review suggested that the company may have not been offering its services in accordance with its licence conditions, which could make it unsuitable to continue offering its service range to British customers.
Furthermore, the UKGC revealed that some suspected anti-money laundering and social responsibility failures were among the major considerations of the regulatory body in regard to the decision for the gambling company’s licence suspension, which took place with immediate effect.
The watchdog of the UK gambling sector noted that it has determined to suspend the aforementioned operating licence in line with section 118 (2) of the Gambling Act 2005.
Goldchip Limited Supposed to Treat Customers Fairly During the Suspension
The UK Gambling Commission revealed that it had contacted the operator and clarified that, during the course of suspension, Goldchip Limited is expected to focus on the provision of fair customer treatment. The gambling company should also make sure that it keeps all of its customers fully informed of any development in the probe against the operator that could affect them in any way.
As the UKGC noted, the recently-announced suspension of Goldchip Limited’s operating licence does not prevent the gambling company from allowing its customers to access their user accounts and withdraw the funds they may have there. The company can be contacted through its website – goldchip.com.
The recent suspension of the online gambling operator’s licence is the second time in 2022 that the UKGC has taken action against a gambling business’ operating permit. In January 2022, the regulator announced that it imposed an additional licence condition on Genesis Global, with the company also being forced to pay a £3.8-million fine after an investigation of the watchdog unveiled some serious social responsibility and money laundering failures. Three money laundering issues were found by the regulator, as well as several social responsibility failures on the company’s part.
Later, the UK Gambling Commission registered significant compliance improvements in Genesis Global Limited, which has been operating 14 UK-facing online gambling sites. The latest regulatory probe into the company’s services was brought to an end in January, resulting in an additional licence condition under which Genesis Global Limited is required to further audit its operations, a warning, as well as a monetary fine of £3.8 million.
- Author
Olivia Cole
