UKGC Fines Star Racing for AML and Social Responsibility Failings
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UKGC Fines Star Racing for AML and Social Responsibility Failings

Customers made large deposits with no proof of source of funds

by - Thursday, July 13th, 2023 7:52
UK Gambling Commission Fines

The UK Gambling Commission (UKGC) has fined Star Racing Limited for for anti-money laundering (AML) and social responsibility failures.

UKGC Fines Star Racing for AML and Social Responsibility Failings

According to the UKGC announcement, Star Sports had ineffective policies and procedures in place. This allowed customers to make large deposits without having to provide detailed source of funds information. This is in direct breach of it licensing conditions with respect to AML guidelines.

UKGC Fines Star Racing for AML and Social Responsibility Failings

All failings were found to have occurred between March 2020 and May 2021.

UKGC Fines Star Racing for AML and Social Responsibility Failings UKGC Fines Star Racing for AML and Social Responsibility Failings. The UKGC issued 11 penalties totaling  £36,945,035 / €43,070,716 representing 57.3% of all fines issued in the first half of the year.

Natasha Lyndon
UKGC Fines Star Racing for AML and Social Responsibility Failings