The UK Gambling Commission (UKGC) has played a key role in developing the government’s new Economic Crime Plan 2019-2022’, which aims to address the key strategic priorities in combating economic threats to the UK.

The new plan, spearheaded by the Economic Crime Strategic Board, addresses ‘7 priority areas’ in tackling economic crimes, highlighting major threats such as money laundering and terrorist financing.

The task force aims to work alongside the UKGC to develop a collaborative framework for ‘public and private sectors to jointly deliver a holistic plan that defends the UK against economic crime’.

Published in the report, the government has issued a warning to UK businesses regarding the risks of criminal gangs that are using sophisticated techniques to ‘target vulnerabilities within the current UK business regime’.

“There has been insufficient coordination and cooperation both within the public and private sectors and between the public and private sectors,” it said. “There has not been a clear sense of prioritisation. This plan sets out how we can do better.”

As stated in its three-year plan, the government has aimed to reform UK business stakeholder coordination, supervision and reporting of economic crime, further enhancing law enforcement’s capabilities to prosecute criminal activity.

The UKGC will act as an advisor to the government on the matters, supporting the task force in the development of key actions related to risk management, digital identity and enhancing international cooperation networks.

The UKGC said: “Gambling operators will play a vital role in assisting the Commission, and the UK Government, realise this step-change plan for combating economic crime in the UK, and we urge operators to pay close attention to the plan and amend their risk assessments, policies and other controls where necessary.”