Mastercard and Visa face scrutiny for enabling transactions on illicit gambling sites that defrauded UK customers, as reported by Investigate Europe. Despite commitments to curb such activities, the payment companies allowed their networks to facilitate transactions on unlicensed platforms. A recent investigation discovered Mastercard as a payment method on nine unauthorized websites catering to UK customers with various betting options.
Visa was found as a payment option on two sites. Both companies earn fees per transaction. Investigations showed customer complaints about these unlicensed sites, with reports of significant financial losses. One customer lost £60,000 and felt suicidal after gambling on an unlicensed site.
The unlicensed sites lacking gambling licenses persist online, appearing in search results and on social media. Five top sites received about four million UK visits from October to December. This raises concerns about regulators’ efficacy in preventing scams on these sites that still accept UK card payments.
Both Mastercard and Visa have stated their prohibition of illegal activity on their networks and their commitment to investigating the allegations. The UK Gambling Commission is aware of such sites and ensures continued enforcement. The Observer uncovered that despite a 2014 agreement to block payments to unlicensed operators, these companies are still processing payments for illicit websites.
In an effort to disrupt the unlicensed market, the Gambling Commission issued over 770 cease and desist notices and sent over 100,000 URLs to Google for removal in the past 11 months. Despite this, identified sites, offering sterling deals like up to £1,800 welcome bonuses and free spins, remained accessible last week.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
Leave a Reply