New Gaming Compliance Regulations for FSRC

Following the UK’s decision to formally designate Antigua a “white listed jurisdiction” in November 2008, the Directorate of Offshore Gaming, a branch of the Financial Services Regulatory Commission (FSRC) has introduced a new programme to ensure compliance.

As a white-listed jurisdiction, Antiguan firms are now able to advertise and attract customers from the UK. Gaming sites operating from Antigua benefit from tax exemptions as well as the preferential time zone and there are currently 14 licensed operators under the jurisdiction.

The Antiguan authority has now introduced a new monitoring programme to ensure remote gaming compliance, as well as showing support for UK research into problem gambling and associated education and prevention.

The automated monitoring system for ensuring gaming compliance will ensure that operators are complying with money laundering regulation, as well as safeguarding players and licensees. It will utilise computer assisted auditing techniques to actively monitor that compliance requirements are being met.

Kaye McDonald, Director of Gaming, explained that “The ongoing improvements to our statutory requirements ensure that our licensees comply with internationally accepted best practices, and further affirms their commitment to socially responsible practices”.