The UK Gambling Commission (UKGC) stated that prediction markets would fall under existing gambling legislation and be classified as gambling products if they are offered in...
UKGC warns about AI, crypto games and money laundering
The UK Gambling Commission released an important update to anti-money laundering (AML) and terrorist financing regulations.
According to the commission, criminals use artificial intelligence (AI) to create fake documents, deepfakes, and manipulated images to bypass diligence checks. Operators are now urged to train staff to recognize AI-generated materials in their verification processes.
Another concerning issue is the rise in “mule accounts,” where individuals are paid for their personal details to open gambling accounts. This could lead to illegal betting activities and expose operators to further risk.
The Commission also raised concerns over the growing popularity of crash games, particularly in unlicensed crypto casinos. While these games attract players, they also pose a higher risk of money laundering, especially when quick withdrawals are involved. Operators are advised to carefully monitor these transactions and identify suspicious betting activities.
Additionally, the Gambling Commission has warned certain online and land-based casinos offering money services like third-party transfers and foreign currency exchange. These services carry significant money laundering risk, especially where large amounts of high-denomination notes, for example, €500 notes, are handled.
The UK Gambling Commission (UKGC) will introduce new rules from July 29, 2026, that will demand the removal of all non-compliant gaming machines from casinos.The current...
