Reimagining Affordability: How operators can up the ante with KYC and Financial Risk Checks

The UK’s Gambling Act White Paper, released in April 2023, proposes vital updates to the 2005 Gambling Act. These changes aim to modernize regulations for the digital age, addressing VIP customer issues, slot limits, financial risk checks (formerly affordability checks), and other aspects of the UK gambling sector.

Many key measures outlined in the policy paper are set to take effect by summer 2024. As the government engages in consultations to translate policy into practical actions, UK gambling operators face significant challenges in adapting to this new era.

In 2022, the UK Gambling Commission imposed £44.6 million in fines, marking a 75% increase from the previous year. Furthermore, 3.8% of UK adults are categorized as at-risk or problem gamblers. With impending regulatory changes, a daunting scenario looms for UK gambling operators.

Watch our webinar, where expert panelists will provide guidance on preparing for these forthcoming UK changes. Gain insights into maintaining an edge in player verification, explore secure KYC and AML solutions, and navigate financial risk checks effectively.