The Commission announced on 1 May 2024 that it would look at launching a pilot of its frictionless ‘light touch’ financial risk assessments from 30 August, this upcoming Friday.
A four-stage plan was initiated by the UKGC back in May, hoping to adopt regulatory changes that will impact “remote game designs, terms and conditions on direct marketing, light-touch financial vulnerability checks, and tightening processes to support age verification checks in premises.”
Once launched on Friday, the pilot will run for six months to apply light-touch affordability checks with an initial threshold of customer deposits of £500 a month. Subsequently, the pilot aims to reduce the deposit threshold to £150 a month by 28 February 2025.
This figure will stand as a mandatory limit for affordability checks to be applied by online ..