UK Gambling Industry Unites Against Money Laundering Threats
Over 100 industry professionals, regulators, and law enforcement representatives convened at the annual Gambling Anti-Money Laundering Group (GAMLG) training event to address the growing challenges of financial crime within the UK’s gambling sector. For the first time, the event was open to non-Betting and Gaming Council (BGC) members.
Illegal Gambling Black Market Remains a Growing Concern
Opening the event, BGC CEO Grainne Hurst emphasized the importance of industry-wide cooperation in preventing financial crime. She also warned of the increasing threat posed by illegal gambling operators, which continue to exploit regulatory loopholes.
A recent BGC study revealed that 1.5 million UK adults engage with unregulated gambling platforms, contributing up to £4.3 billion ($5.34 billion) annually to the black market. This underscores the need for stronger enforcement measures to curb illicit activities while ensuring consumer protection.
Strengthening Anti-Money Laundering Measures
The event, first launched in 2022, has become a key forum for discussing financial crime prevention strategies. Representatives from the Gambling Commission, HM Treasury, the UK Financial Intelligence Unit, and the Regional Economic Crime Unit at West Midlands Police were among the attendees.
Hurst reiterated that regulated operators must remain vigilant in preventing money laundering within legal betting markets, while also acknowledging that unlicensed operators pose a persistent risk.
She confirmed that GAMLG is working on a new Anti-Money Laundering (AML) code, aiming to elevate industry standards without compromising player safety.
Collaboration Across Sectors to Combat Financial Crime
GAMLG Chair Keith Bristow reinforced the industry’s commitment to tackling financial crime through joint efforts with regulators, law enforcement, and government agencies.
He praised the sector’s proactive stance in adopting best practices for AML compliance and mitigating the risks associated with fraudulent activity.
The event took place against the backdrop of ongoing discussions between the BGC and the UK Government regarding gambling reforms. In November 2024, while the BGC supported the proposed mandatory levy and stake limits, it also raised concerns over certain aspects of the government’s approach.