The UK Gambling Commission has fined online gambling operator Greentube, which runs admiralcasino.co.uk, £1 million (€1,193,188 / $1,229,141) as a result of social responsibility and anti-money laundering failures.
In its announcement, the UKGC confirmed that the money will be paid directly to socially responsible causes as part of the settlement.
The investigation found the company had breached its licensing conditions as follows:
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UKGC Fines Greentube for AML and Social Responsibility Failures
UKGC Fines Greentube for AML and Social Responsibility Failures
- Failing to identify indicators of vulnerability
- Delays in the identification and potential escalation of money laundering and/or terrorist financing risks.
- Failing to identify “risky occupations” during AML checks.
Examples of breaches
UKGC Fines Greentube for AML and Social Responsibility Failures UKGC Fines Greentube for AML and Social Responsibility FailuresIn another instance there were no steps were taken to mitigate the increased risk of a ‘finance manager’ who had access to funds which could be misappropriated and laundered.
UKGC Fines Greentube for AML and Social Responsibility FailuresJohn Pierce, Commission Director of Enforcement, said:
UKGC Fines Greentube for AML and Social Responsibility Failures following a Commission investigation that uncovered failures in social responsibility and anti-money laundering measures.“This case arose from a follow-up compliance assessment designed to ensure the operator had continued to apply lessons learned from previous regulatory action.
While we noted that the business had made significant general improvements, further regulatory breaches were still identified. The operator was subsequently required to swiftly put in place an effective action plan designed to remedy all of the identified failings.
We want to remind all operators that any business found to breach rules designed to keep gambling safe and free from crime for a second time should expect increasingly stringent enforcement action. Any failure to uphold anti-money laundering standards is unacceptable, and today’s action reflects the gravity of the breaches identified.
We will continue to monitor this operator to ensure they consistently meet the required regulatory standards.”
