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Alderney Demands Fund Seperation For Licensees

The Alderney Gambling Control Commission has announced that it has implemented a few new amendments to its Category 1 eGaming licensees, with one of the amendments requiring operators to separate their funds.

The biggest announced amendment comes in the wake of the failure of Full Tilt Poker, and would require each licensee to have an isolated bank account exclusively meant to hold player funds. The licensees will then be required to provide proof to the AGCC that the accounts are in good standing each month. The amendment does contain a rider however, that allows the AGCC to waive the stipulation.

Other amendments to the Category 1 regulations are:

  • An AGCC approved customer notification mechanism in the case of insolvency,

  • An approved internal control system detailing each bank account holding funds standing to the credit of its registered customers.

Interested parties can read the full text of the amendments at: http://www.gamblingcontrol.org/userfiles/file/Ald%20eGambling%20%28Amend...

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