🍒 Online gambling firm hit with record £m penalty - BBC News

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, one of Britain's biggest online gambling firms, is to pay a record penalty fine of over £m as a result of its handling of vulnerable customers.


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UKGC Hits Online Gaming Operators with Record $ Million in Fines
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In one of the biggest ever fines levied by the UK Gambling Commission, was ordered to pay £ million for failing to comply with UK.


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Betway Hit with Record $M Fine for Processing Criminal Proceeds
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We knew we'd hear from the UK Gambling Commission again before too long. had the dubious honor of attracting the largest UKGC fine ever in August.


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The UK Gambling Commission continues to pile regulatory pressure fine imposed by the UKGC was £ million, which was issued to


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William Hill gets into a lengthy list of operators being fined by the UK Gambling Commission, among Ladbrokes Coral and , both being fined.


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The UK Gambling Commission said it had discovered inadequacies in 's self-​exclusion procedures, which are designed to allow customers.


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The U.K. Gambling Commission penalized the online gambling company Holdings plc will pay a record penalty package of £ million.


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AUSTRAC and UK Gambling Commission have strengthened their cooperation in the fight against serious financial crime and terrorism.


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We knew we'd hear from the UK Gambling Commission again before too long. had the dubious honor of attracting the largest UKGC fine ever in August.


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Kindred accepts £m Gambling Commission fine for Platinum Gaming forecast higher than expected for , as revenue rises 34%.


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Rather than taking a breather after laying down the law, the UKGC has more irons in the fire. Sweden is another jurisdiction that's making waves in the internet gambling business. This island's appeal was further enhanced by its new Gaming Act , which streamlined the licensure process, and its various initiatives to support crypto-currency. A fourth company, CZ Holdings, had to surrender its license after review. Its social responsibility performance was also poor. Because they're headquartered in offshore locales, the UK government often has no effective methods for bringing them to heel. Read the full Wild Casino Review. This used to not be the perception of the country, but that all changed once the Gambling Commission was set up in Since then, it has been tightening up the rules surrounding gambling, especially remote gaming, and fining violators astounding sums. Main menu U. It's not exactly clear from the UKGC's statement whether a review of this corporation uncovered any information that perhaps convinced it to surrender its license, but this is possible particularly given its history of slow payments. The United Kingdom is fast making a name for itself as a tough market for online gaming. Visit Wild Casino. Nine licensed companies have been handed Advice as to Conduct notices, and six sites are in the process of being investigated. Most of the enforcement measures of the UKGC appear to involve social responsibility and money laundering failings, but the Commission does take notice of other matters too, like when it chastised Tabcorp for offering an unusual prop bet that the authorities believed may have motivated an athlete to act improperly. Casumo is an online casino that's based in Malta and licensed by the MGA. To learn more about this operation and find out if it's right for you, browse over to our Sportsbetting Poker review. Skip to main content. This business similarly neglected to conduct the proper investigations needed to fight against money laundering and terrorist activity. The Gambling Commission had actually announced the steps it took against Daub Alderney in a previous statement dated Nov. Three people with PMLs are under investigation too. You are here Home. However, the drafters of the more recent text couldn't help but bring up this matter again, seemingly just to remind the public at large that the UKGC is not an organization to be trifled with. This Nordic country's reasonable taxation structure and operator-friendly rules have enticed more than 75 companies to seek Swedish gaming licenses. The firm refunded these deposits. I am pleased to see the Gambling Commission taking the strongest possible action when companies fail to meet their obligations. Not much info is publicly available regarding CZ Holdings, the enterprise that surrendered its gaming license. The regulatory burdens placed on online gambling sites by the UK's leaders have left many of them wondering if they would not be better off obtaining licensure elsewhere. Do you think you may have a Gambling Problem? Malta is an attractive destination with a solid history of gaming regulation. If so, call immediately for help. Be that as it may, senior government leaders have praised the UKGC for its punitive approach. PokerStars has also come under the scrutiny of the Competition and Markets Authority, which in July blocked the merger of the Stars Group and Sky Betting and Gaming although the deal was given the go-ahead to proceed in October.

The United Kingdom Gambling Commission UKGC has never been shy about slapping huge penalties on gaming operators that it believes have broken the rules — especially when it comes to money laundering, possible terrorist financing, and customer protection weaknesses.

Any and all information and advice proffered is for informational and entertainment purposes only - it is not legal advice. Casumo was found to have breached its license terms in a similar way as Daub Alderney, possessing inadequate anti-money laundering and -terrorist financing protocols. Its website boasts that there are more than 2, casino titles for players to choose click here. Other regulators in the United Kingdom also have jurisdiction over certain doings of gaming firms.

It has a casino, sportsbook, poker room, and several other gambling products. The Nov. Besides the slots that its name implies, it also has blackjack, roulette, video poker, and all the other typical casino standbys.

Take, for instance, the Advertising Standards Authority, which in April ordered PokerStars to stop showing an ad that allegedly encouraged reckless gambling.

At the center of its failings lie its inability or unwillingness to live up to its responsibilities to counter money laundering and terrorist financing as stipulated in regulations enacted in They found that the licensee failed to properly monitor its business relationships with other entities, was lax in performing due diligence on 888 gambling commission fine with a higher risk of money laundering, didn't keep adequate records of the due diligence it had performed, didn't train staff members on how to deal with suspicious transactions, and hadn't implemented policies specifically tailored to combating money laundering.

In none of these instances did Casumo's systems and employees flag their behavior as warranting extra attention. DrVegas closed down in Juneso it's no surprise that its parent organization elected to forfeit its gaming license. It is the responsibility of consumers to be aware of and comply with 888 gambling commission fine state and national laws that apply to them as regards online gaming.

It's a new entrant on the 888 gambling commission fine licensure scene, having only just begun to allow international online pokercasino, and betting houses to obtain licenses. The UKGC pointed out three cases involving account holders who demonstrated the symptoms of gambling addiction.

In addition, it modified its practices to better discharge its obligations to counteract money laundering and terrorist financing following the audit as noted by the UKGC in its ruling. Some of the Brands in the Daub Alderney Portfolio.

You see, key executives at online gaming outfits must be approved of by the Commission, and they hold what are known as personal management licenses PMLs. Some of the Games in the VideoSlots Collection.

Search form Search. Online wagering services that 888 gambling commission fine UK licensure have no reason to obey the dictates of regulators. On top of issuing judgments against gambling concerns, the UKGC also sometimes goes after individuals.

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While the UKGC has a role to play in keeping online casino, sports betting , and poker sites safe places for British consumers, it's possible that it may have gone overboard. Also, its responsible gaming endeavors were insufficient. Ignition Sportsbetting. It is not a gambling site and does not provide or offer any gambling software or services. This may seem like peanuts compared to the sums demanded from Daub Alderney and Casumo, but the UKGC noted that VideoSlots was unusually transparent and forthcoming about its various shortcomings, which probably weighed in its favor when the time came to decide upon the fine. All the cumbersome compliance overhead caused by the UKGC and its fellow government watchdogs only affects properly licensed entities. We do know that it ran the troubled DrVegas casino, which has been accused in the past of slowpaying winners. Furthermore, Daub Alderney's user self-exclusion features had bugs that allowed 73 gamblers to keep playing even after they asked that their accounts be suspended.