The UK Gambling Commission will introduce Financial Risk Assessments through a phased rollout. The new system is designed to identify high-spending customers in financial difficulties. It also aims to replace many of the document checks currently used by operators.

• The Commission said high-spending customers are more likely to have debt management plans or recent payment defaults than the wider population. Without being identified, they may continue receiving gambling promotions despite financial problems. The new checks are intended to help operators spot these customers earlier.
• Financial Risk Assessments will use data from Credit Reference Agencies and will not affect a customer’s credit score. The pilot found that 97% of customers above the thresholds could be assessed without providing documents. Fewer than 1 in 1,000 accounts would need other checks such as open banking or document requests.
• The first stage will apply to the largest operators and customers depositing GBP 5,000 (ca. EUR 5,852) or more within 24 hours. Later, the thresholds will fall to GBP 1,000 (ca. EUR 1,170) over 24 hours or GBP 3,000 (ca. EUR 3,512) over 90 days for customers aged 25 and over, with lower limits for under-25s. The Commission will confirm the rollout timetable after further discussions with the industry.
• Acting Chief Executive Sarah Gardner said: “We are confident that our approach, using high-quality data, will enable support for high-spending customers in financial difficulties, while reducing friction for customers who are not in financial difficulties.” During the early rollout, the Commission said it will not take enforcement action solely for failing to act on an assessment.

Please find more news here.