UK LEGAL


New Gambling Commission Risk Assessment


By Northridge Law’s Melanie Ellis. T


he Gambling Commission has published an updated Money Laundering and Terrorist Financing Risk Assessment, which provides some useful insights into the regulator’s current thinking on fi nancial crime risks. The Commission’s report highlights several new areas of risk and updates some existing risks, meaning operators should be revisiting their own risk assessment and compliance frameworks in light of the changes.


RISK ASSESSMENTS CONTINUE TO BE KEY


The Commission’s updated document reiterates the importance of operator risk assessments. Enforcement action over the past few years has continued to demonstrate that some operators


20 OCTOBER 2026


have an inadequate risk assessment and/or fail to properly addressed all relevant money laundering and terrorist fi nancing risks. Risk assessments should not be treated as static compliance document, rather they should be updated to refl ect changes in regulation, products, the customer base, payment methods, and any other new risks identifi ed by the operator or highlighted by the Commission.


CRYPTOASSETS


The Commission’s risk assessment refl ects its ongoing concern that cryptoassets may create opportunities for anonymity, rapid movement of funds and cross border transactions that are more diffi cult to monitor than traditional payment methods.


For the fi rst time, cryptoasset payments are highlighted as a risk for gambling software businesses as well as customer- facing operators. Software providers may receive payments from customers either in cryptocurrency, or that derive from cryptoasset activity, with the Commission noting that such payments have occurred through business relationships and investments. Examples are given in the Commission’s risk assessment of a software company receiving a loan where the ultimate source of funds was revenues of a remote casino offering cryptoasset facilities, and a licence applicant which had fundraised with an Initial Coin Offering.


For all gambling operators, this reinforces


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