Goldchip sees Great Britain licence suspended pending regulatory review of online operator

Goldchip this week saw its UK licence suspended, after the Great Britain Gambling Commission declared that the online gambling operator must undergo a review.

The Commission said that the suspension and review have been actioned due to concerns that Goldchip may have operated in a way that is contrary to the Gambling Act 2005.

While no details of such activities have been disclosed, the Commission did say that it suspected social responsibility and anti-money laundering shortcomings, which were leading considerations in the decision to suspend the licence.

Based on this, the Commission said that such activities would mean Goldchip, which operates Golchip.com, may not be suitable to continue operating under its Great Britain licence.

As for the next steps, a review will be carried out under Section 116 of the Gambling Act, while the suspension is in line with Section 118 (2) of the Act, which states the Commission may suspend a licence while it oversees a review under section 116.

“We have made it clear to the operator that during the course of the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them,” the Commission said. 

“The suspension does not prevent the operator from allowing consumers to access their accounts and withdrawing funds.”

The suspension comes into immediate effect.