UKGC Suspends Operating Licence of VGC Leeds Limited

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The UK Gambling Commission has suspended the operating licence of VGC Leeds Limited as it carries out a review under section 116 of the Gambling Act 2005.

The review and consequent suspension follow concerns that activities may have been carried out contrary to the Act, not in accordance with conditions of their licence and that the Licensee may be unsuitable to carry on the licensed activities.

During a recent Compliance Assessment, VGC Leeds Limited are reasonably believed to have failed to maintain and implement effective anti-money laundering policies, procedures and controls, as required under the conditions of their licence.

In addition, serious concerns were identified regarding the adequacy of decision-making processes and the Licensee’s response to identified anti-money laundering and counter-terrorist financing risks, raising questions about the overall effectiveness of its governance and risk management arrangements.

These failings are considered significant and represent a serious threat to the licensing objectives, in particular keeping crime out of gambling.

“We have made it clear to the operator that during the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them,” UKGC said.

The suspension takes place immediately.

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