UK Gambling Operators Fined Over £1 million Each

Home » UK Gambling Operators Fined Over £1 million Each

The UK Gambling Commission fines two of the UK's leading gambling operators.

Platinum Gaming

Platinum Gaming is owned by Kindred Group, known for its flagship brand Unibet. It was discovered the company failed to protect its customers from gambling harms and uphold a commitment to anti-money laundering (AML), after a probe revealed stolen funds were used. They received a £1.6 million fine.

An investigation revealed inadequate enquiries were made about the source of funds used to gamble, despite the customer's losses being so high in such a short amount of time and displaying erratic behaviour.

A settlement was made with the Gambling Commission, the fraudster's victims received £629,420 and Platinum Gaming will pay £990,200 in place of a penalty. The money will be used to assist in the implementation of the national strategy to reduce gambling harms.

Richard Watson, Gambling Commission Executive Director, said:

“There were weaknesses in Platinum Gaming’s systems and as a consequence, more than half a million pounds of stolen money flowed through the business. This is not acceptable and I would urge all operators to carefully read this case and learn lessons so they don’t make the same mistakes.”

He was adamant that operators who failed to implement safeguards and protect consumers would be held accountable, and action taken against them.

Gamesys Limited

Gaming operator Gamesys Limited neglected it's AML responsibilities and failed three customers who displayed signs of problem gambling. The breach in regulations was discovered after a police investigation into possible money laundering.

By failing to comply with regulations such as establishing a player's source of funds and interacting with possible problem gamblers, Gamesys Limited received a £1.2 million fine.

The victims of the stolen money will receive £460,472, and Gamesys will pay £690,000 in lieu of a penalty. The funds will be used to accelerate the strategy to reduce gambling harms.

Richard Watson, Gambling Commission Executive Director, said:

“It is vital that operators understand their customers – track their online gambling and step in quickly when they suspect someone is suffering from gambling harm.

“These key steps and processes ensure they meet both their anti-money laundering and social responsibility obligations for all customers.

One Reply to “UK Gambling Operators Fined Over £1 million Each”

Leave a Reply

Your email address will not be published.