An investigation has revealed that Mastercard and Visa are continuing to process payments for illegal gambling websites targeting UK customers, despite prior commitments to prevent such activity. These unlicensed sites are accused of scamming individuals out of substantial sums of money.

The investigation uncovered that as recently as last week, Mastercard was available as a payment option on nine websites offering casino games and live sports betting to UK consumers. Alongside cryptocurrency, Mastercard facilitated transactions on these platforms. Visa was also found to be processing payments on two of the aforementioned websites.

Both Mastercard and Visa are understood to profit from these arrangements, generating revenue through small fees levied on each transaction. This revelation raises serious concerns about the effectiveness of their systems in preventing the use of their networks for illicit activities, and their adherence to pledges aimed at protecting consumers from unlicensed and potentially fraudulent gambling operations.

From The Guardian:

An investigation has found that the payment giants are failing to stop their networks being used to make transactions on unlicensed sites despite a previous pledge to do so. Last week, Mastercard was offered alongside cryptocurrency as a payment method on nine websites targeting UK customers with deals for casino games and live sports betting.

Visa was also offered on two of those sites. Both companies are understood to profit from the arrangements, earning a small fee each time a transaction is made.

The card companies’ links to the unlicensed sites are revealed in the wake of an investigation coordinated by Investigate Europe into a network of gambling sites operating in parts of Europe despite being banned.

The nine websites operating in the UK do not hold gambling licences, which are required by law, but appear in search listings and are promoted on social media. The five most popular sites drew about four million UK visits between last October and December.

They have been accused of failing to pay winnings and spamming problem gamblers. FatPirate, which advertises a welcome bonus of up to £425, has been the subject of several complaints that it prevented users from withdrawing money they had won. One UK customer claimed they had won £6,000 after spending £3,270 with their bank card but were unable to withdraw it.
Read more here: https://www.theguardian.com/society/...g-uk-customers