AGCC stricter regarding player funds safety

27 July 2012

The process to legalize Online Poker is still running strong, and rare is the day that we don’t receive news about the processes related to it.

The last info has to do with the Alderney Gaming Control Commission (AGCC).

According to PokerFuse.com, this commission, one of the many that delivers gaming licences, saw its credibility being questioned when the case of full Tilt came to public, where it was accused of not performing its duties regarding the control of the operator gaming activities.
So, the AGCC is now working on new regulations to ensure players funds are safe at all times and gradually start to recover the thrust lost in the Full Tilt Process.

The most recent directive is that the operators must segregate player funds in a separate account from the operational bank account of the operator in order to have the players funds available at all times and avoid situations like the ones driven from Black Friday. This measure, to be approved, becomes active and official from the beginning of 2013.

Still, there is an exception to this rule. Given the case that the rooms can’t separate the players funds from operational funds, the commission reserves the right to relieve the rooms from this condition, as long as the operators guarantee the devolution of players funds at any given time, so the operators accounts must always have an available balance superior to players funds.

The nature of this measure also tries to avoid that the operators never loose or spend players funds at any pretext, and also acts as a first alert, by detecting the use of player funds on operational costs will let AGCC surely detect problems in its beginning and avoid critical situations as we are currently living. 

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