After an in depth investigation, the Regulators of the British Channel Islands have found out that Full Tilt Poker has not been abiding to local laws and hence they have revoked Full Tilt Poker and its affiliates’ license.
These past few months have certainly not been a great time for Full Tilt Poker, considering this is a second blow from the British Channel Islands, after the complete shutdown of their operations in the United States of America. The first blow occurred on April 2011, when a message was put out at Full Tilt’s domain, www.fulltiltpoker.com, mentioning that the domain name had been seized by the FBI subsequent to an arrest warrant given on 28 April 2011.
According to a source from the commission, subsequent to the indictments that took place in the United States of America, the gambling commission on the island of Alderney revoked the licenses of Full Tilt Poker and its other verticals. The accusations filed this April in New York sued the company owners with bank fraud and money laundering activities.
A statement from the Alderney commission reported that there has been evidence to prove that Full Tilt Poker and its affiliates have not been particularly following the local laws in parts of UK.
Andre Wilsenach, the commission’s Executive Director mentioned in statement that “The decision to suspend the eGambling license was in the public interest and, because of the seriousness and urgency of the matter, it required that immediate action be taken.”
There was no response from Full Tilt Poker regarding this incident. The traffic on Full Tilt Poker has plummeted by 48% after the indictments had taken place in the United States, according to PokerScout, an online portal that deals with tracking poker websites all over the world. Reports from PokerScout said that there was zero money play on Full Tilt after this announcement was made.
After the indictments, it has come to light that US online poker companies violated the law and made the banks process money in the name of sales of harmless products like flowers and golf balls.
As of now Full Tilt Poker is closed down to US players and has had its license revoked. It remains to be seen what this will mean for FTP players with their money still stuck in their accounts.