Gambling Firm Betway Hit with Record ₤ 11.6 M Penalty > 자유게시판

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Gambling company Betway hit with record ₤ 11.6 m charge

12 March 2020

Online betting company Betway has been hit with a of ₤ 11.6 m for failings over client security and money-laundering checks.

the yohaig code Gambling Commission said Betway stopped working to inspect the source of funds of one client who deposited over ₤ 8m and lost over ₤ 4m in a four-year period.

It also stopped working to effectively engage with a customer who transferred and lost ₤ 187,000 in 2 days.

The penalty bundle is the greatest to date dealt with by a UK gambling firm.

The Gambling Commission's investigation stated the failings were linked to negotiations with seven of Betway's high-spending clients.

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It stated that "as a result of a lack of consideration of private consumers cost and source of funds checks, the operator allowed ₤ 5.8 m of cash to flow through business which has actually been discovered, or might reasonably be presumed to be, earnings of criminal offense".

The commission stated the examination had actually also exposed "insufficient management oversight", including that a probe "into accountable Personal Management Licence holders" was continuing.

"The actions of Betway suggest there was little regard for the well-being of its VIP consumers or the effect on those around them," stated Richard Watson, executive director at the Gambling Commission.

"As part of our ongoing program of work to make gambling safer, we are pressing the market to make fast development on the areas that we think about will have the most substantial impact to safeguard customers," he added.

"The treatment and handling of high-value consumers is a substantial piece of that work and operators remain in no doubt about the need to tackle the problem at speed."