The voluntary code was designed in collaboration with the UK Gambling Commission (UKGC) to help raise standards and reduce the need for private financial document requests when verifying customers.
As cited by the BGC, the code was designed “in response to the ongoing debate around affordability, the BGC, Government, and GC are taking action now to find practical solutions for online betting and gaming, giving greater clarity to customers and horseracing, while enhancing standards.”
Launched as a voluntary measure for BGC members, the code specifies actions required when customers’ accounts exceed net deposits of £5,000 in a rolling month or £25,000 within a 12-month period.
Members applying the code “must undertake a risk assessment of that customer to: i) understand their financial si..