The UK Gambling Commission has announced that Bet365 must pay a £582,120 ($735,442/€678,684) regulatory settlement for anti-money laundering and social responsibility failures at its online business.
The settlement comprises two payments:
- Hillside ENC (UK Gaming – Bet365 bingo and casino) will pay £343,035 ($433,385/€399,939)
- Hillside ENC (UK Sports – Bet365 sports betting) will pay £239,085 ($302,063/€278,766)
As part of a compliance check in March 2022, the following breaches were discovered:
Social responsibility failures
- Customer interactions not tailored to customers’ activity
- Early Risk Detection System was deemed ineffective
- Company could not confirm customers had read or understood any information provided in relation to possible gaming issues
Anti-money laundering failures
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Bet365 Hit With Two Financial Penalties by UK Gambling Commission
- No financial sanctions checks on new customers prior to their first deposits
- No independent verification checks and over reliance on customers’ self-verification Bet365 Hit With Two Financial Penalties by UK Gambling Commission
Total gambling industry fines so far in 2024 have now reached £30,748,935 / $38,896,419 / €35,893,346.
Natasha Lyndon
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.