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Alderney Gambling Control Commission Issues New Policies

Written By: PokerNet.com | July 25, 2012 | Posted In Poker News

Alderney Gambling Control Commission has revised their licensing policy to redeem their image worldwide. A dent in their image was caused by the recent fallout of Full Tilt Poker last year, where they had to take part in pulling the plug off the company.

The revision stated: “All Category 1 licensees – which includes over 100 online poker, bingo and casino sites – will be required to keep customer funds in a separate bank account, the sole purpose of which is to maintain registered customers’ money. The new amendments will go into effect beginning in 2013.” (from PokerFuse.com)

The Gambling Control Commission will also be requiring licensees to submit reports every month and that will contain the total amount of funds from customers. This would make sure that no other licensees will be following the footsteps of Full Tilt Poker.

Alderney has suffered last summer when they were forced to shut down Full Tilt Poker. Full Tilt Poker was formerly the second largest Web cardroom that dealt with “real money”. They were not able to maintain separate accounts for their players, which resulted to owing several individuals from all over the world money that could amount to millions of dollars.

This British island used to be one of the most revered and famous licensing jurisdictions for online betting firms, but everything has gone sour when they closed down Full Tilt Poker. The US Government has accused Full Tilt Poker’s operations and their executives as engaging in a very elaborate ponzi scheme. Full Tilt Poker CEO Ray Bitar has been in hiding since Black Friday and has recently surrendered and was returned to the US to face charges. At present, he has posted bail and was allowed to return home to California.


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