The twin island state of Antigua has been dealt another blow with news that
UK legislators are calling for a review of its whitelist status.
Offshore gambling jurisdictions may apply to the United Kingdom's Gambling
Commission to be put on the famous whitelist - a list that acknowledges the
tough licensing criteria and standards set by the jurisdictions, and in turn
allows operators licensed through them to advertise in the UK.
Last year, Antigua - after exhausting attempts - was finally granted
whitelist status. However, this may soon be repealed due to financial
irregularities in the island's banking sector.
According to some UK legislators, Antiguan regulators cannot be trusted to
watch over the online casinos that operate out of its jurisdiction, following a
huge financial scandal that was blown up recently. Allen Stanford, a billionaire
entrepreneur, has been involved in every sector of Antigua's industries and
economy. The US Department of Justice has accused Stanford of running a pyramid
scheme worth billions of dollars.
The Stanford Bank, which plays a huge part in Antigua's economy, was accused
of issuing fake deposit certificates - a fact that was not picked up by the same
regulators who watch over the island's online casinos.
Worried legislators in the United Kingdom say that until they can prove that
the process whereby Antigua provides its online casino licenses is thoroughly
scrutinized, they want to freeze Antigua's whitelist status.
More and more UK politicians are calling for a greater level of transparency
in online casino licensing processes.
Antigua's economy received a severe bashing when the United States banned
online casino sites that were licensed on the islands from competing in its
market.
