The UK Gambling Commission has announced that it has fined online gambling operator Gamesys Operations Limited £6 million ($7.6 million/€6.9 million) for social responsibility and Anti-Money Laundering (AML) failings.
According to the announcement, the company must undergo a third-party audit in the near future to ensure that it is compliant with AML and social responsibility guidelines and regulations.
Gamesys currently operates 16 websites:
- ballycasino.co.uk UKGC Fines Gamesys for AML and Social Responsibility Failures
- jackpotjoy.com
- megawayscasino.com UKGC Fines Gamesys for AML and Social Responsibility Failures
- monopolycasino.com
- rainbowriches.co.uk
- rainbowriches.com
- rainbowrichesbingo.co.uk
- rainbowrichescasino.co.uk
- rainbowrichescasino.com
- rainbowslots.co.uk
- rainbowslots.com UKGC Fines Gamesys for AML and Social Responsibility Failures
- smoothbingo.com
- virgingames.com
Social Responsibility Failures
The investigation which took place in May 2022 revealed the following failures:
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UKGC Fines Gamesys for AML and Social Responsibility Failures
- Inadequate deposit limits system; one customer deposited £8,255 within three days of opening an account while another lost £5,968 within five weeks of opening account and another lost £17,482 within 34 days of opening an account. UKGC Fines Gamesys for AML and Social Responsibility Failures
- Failing to maintain adequate records for interactions and decision based on those interactions.
AML Failures
Anti-money laundering failures included:
- Some customers able to avoid AML triggers/thresholds and spend significant sums without checks – three customers deposited £14,585, £18,884, and £34,280 each with no checks carried out. UKGC Fines Gamesys for AML and Social Responsibility Failures
- Having a ‘Reinvestment of winnings policy’ which failed to take into account that funds could be from illegitimate sources and not just from previous winnings.
Speaking of the fine, Kay Roberts, Executive Director of Operations, said:
“Our focus as a regulator is to ensure that operators are employing policies and procedures which make gambling fair, safe and crime-free.
“We take this responsibility extremely seriously and whenever we find failures in policies and procedures then the business can expect significant regulatory action.”
This is the first fine that the Gambling Commission has issued in 2024. In 2023, the UKGC issued £214.2 million/$271.6 million/€247.3 million in fines as total fines across the globe hit a record £347.7 million/$442.6 million/€402 million.
