The UK Gambling Commission suspends Nektan License. The suspension will remain until the commission concludes its review. (Image Source: markortech.com)
The online casino and bingo license earlier held by Nektan has now been suspended by UKGC (The UK Gambling Commission). The UK Gambling Commission is the regulatory body for casino operators in the UK. and it awards licenses to casino operators after they have been certified safe and legal. The commission can revoke or suspend the license at any time if need be. Such is the case of Nektan, a Gilbraltar-based business whose license has just been suspended because of the ongoing investigation. With the suspension, Nektan will be unable to provide any services to its customers all through the process.
Why Was Nektan’s License Suspended?
One might wonder what the renowned operator did wrong to see its casino and bingo operations in the UK suspended. Well, according to The UK Gambling Commission, it is currently carrying out a review on Nektan involving section 116 of the UK’s gambling law. So, it seems Nektan violated one of its licensing conditions.
UKGC is reporting that it suspects that Nektan is not suitable to carry on with activities based on the requirements of licensing. The regulator also mentioned that Nektan has not offered services based on the set goals for license holders. Nektan’s licensing faced immediate suspension as a result of suspicions by the UK Gambling Commission. The suspension will remain that way until the commission feels that the company can now operate in agreement with the law or when the review is concluded. The suspension took effect from the 27th of April and it implies that Nektan will not be able to provide bingo and online casino services to its customer through its website listed in the public register of UKGC.
The UK Gambling Commission clarified to Nektan that it must inform its customers of the new development and also let them know that their winnings will still be paid out despite the suspension. Nektan will only be able to offer services to its customers when or if it gets its license back after the investigation is completed. Henceforth, the UK Gambling Commission will not disclose anything further regarding the suspension till the investigation is concluded. It might take a while before UKGC discloses the exact reason why it temporarily suspended Nektan’s license. The result of the investigation will determine whether Nektan will be fined or lose its license.
Land-Based Casinos Fined
The UK Gambling Commission reported last month that it fined 5 land-based casinos for failing to maintain anti-money laundering regulations and social responsibility protocols. The five companies were fined more than 1.84 million dollars. The fine is related to a review carried out back in October 2019. The companies that were reviewed are; Shaftesbury Casino Limited, Les Croupiers Casino Limited, Clockfair Limited, A&S Leisure Group, and Double Diamond Gaming Limited.
Each of these companies was fined for violating a provision of the regulation relating to anti-money laundering risk assessments. Primary issues found among the operators include failure to seek funds for players who made deposits in millions and also failure to interact with customers who had lost huge sums while playing.
The instances mentioned above are a few examples of how the UK Gambling Commission handles compliance issues. They are very serious about the safety of players and also put great effort into regulating the entire gaming industry as best as they can. The regulator will always do what it ought to do to ensure that every operator in its jurisdiction abides by the rules and make customer-based decisions that will also benefit the country at large.
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