The Alderney Gambling Control Commission (AGCC) has announced that it has absolved itself of any wrongdoing in the failings of Full Tilt Poker last year. In what became known as ‘Black Friday’, Full Tilt Poker and other online poker companies were suspended by the US government because of allegations of bank fraud and money laundering.
Those assessing mobile baccarat note how the AGCC faced potential problems because it allowed Full Tilt to continue to serve non-US players for about three months after Black Friday. However this report has exonerated the AGCC, determining that the regulator’s handling of the incident was “appropriate, timely and fair.”
The author of the report, Peter Dean, explained clearly that the AGCC had “conducted the ‘fit and proper’ tests with appropriate rigour.”
The American authorities have accused Full Tilt of defrauding online poker players worldwide out of £289 million and by giving misleading statements about the state of the company’s funds. The poker site has received a barrage of contempt from some of the world’s leading poker players including Daniel Negreanu and Tony G.
Mr Dean added: “An investigation was instituted, findings made, a hearing held, judgement delivered and sanctions imposed. Due process was followed. A regulatory inspection is not designed to uncover fraud, but is an operational process review.”
Dean was quick to point out that, in future cases of online gambling fraud cases, “external solicitors familiar with gambling regulation” should be used to aid the process, adding some sort of safety net to proceedings.
US players will just be keen for some sort of resolution to the matter. Many are still out of pocket after last year’s debacle and the country is in lockdown after online poker was banned. The drama continues.