The Economic Crime and Corporate Transparency Act 2023 (ECCTA) introduces a corporate criminal offence for failure to prevent fraud, marking the most significant regulatory change in UK gambling compliance in decades. Operators meeting size thresholds over 250 staff, £36M turnover, or £18M assets are now liable even if senior management had no knowledge of fraudulent activity.
The law applies extraterritorially, targeting international operators serving UK customers. Regulators have already signaled swift enforcement, with previous fines highlighting gaps in AML and social responsibility controls. Companies must actively prevent fraud through top level commitment, robust risk assessments, tailored procedures, due diligence, workforce training, and continuous monitoring.
Failure to demonstrate effective implementation may result in criminal investigation, unlimited fines, and reputational damage. The time for operators to act is now self reporting can mitigate risk, but inaction is not an option.
