AGCC Launches Independent Review of Actions Taken Against Full Tilt Poker
On Wednesday, the Alderney Gaming Control Commission announced it will be launching an independent external review of its processes leading up to the suspension and eventual revocation of licenses owned by Full Tilt Poker. The AGCC says the decision has been taken in order to provide full transparency of the actions taken against FTP, which had its license revoked on Sept. 29, 2011, and still owes as much as $330 million to customers.
In October, the AGCC admitted to the BBC that Full Tilt Poker continuously reported funds that were not available because of several problems with payment processors. Rather than audit the online poker site itself, the AGCC had trusted the numbers reported by Full Tilt's accounting department to be accurate.
The upcoming review will focus on the "appropriateness, timeliness and fairness of the actions undertaken" by the AGCC.
"As soon as we became aware that there were possible irregularities in relation to FTP’s operational integrity AGCC acted to discharge fully our statutory obligations," said André Wilsenach, AGCC’s executive director. "We believe we acted appropriately and fairly at all times but, following our own internal assessment and the inevitable questions that have been raised by third parties, the Commission decided that it is in the best interests of players, license holders and AGCC itself to commission an independent review and to make the outcome public."
The AGCC has appointed Peter Dean, former Chairman of the British Gambling Commission, to conduct the review. Dean served with the Gambling Commission from 1998 to 2007 and was also deputy chairman of the U.K.’s Monopolies and Mergers Commission from 1990 to 1997.
"I am delighted that Peter Dean has agreed to conduct the review," Wilsenach said. "He has many years of experience at the top of the British Gambling Commission and commands wide respect from operators and regulators alike. He has been asked to review fully the actions taken by AGCC in respect of FTP and to focus specifically on the appropriateness, timeliness and fairness of those actions
Dean is expected to present a final report and recommendations to the AGCC by the end of March 2012.
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