UKGC Hit Gamsey
Leading gaming operator Gamesys has been hit with a £6m fine by the United Kingdom Gambling Commission (UKGC) for social responsibility and money laundering failings between November 2021 and July 2022.
Social Responsibility And Anti-Money Laundering Failures
The issues with Gamesys were identified by the UKGC during a compliance assessment in May 2022. The biggest issue highlighted was the company’s failure to identify customers that could be at harm. In one instance, it only carried out just one interaction with a customer who had lost £19,079 over the course of five months.
The Commission also deemed that the operator’s interactions with customers were not being recorded in detail, further highlighting the social responsibility failings.
The other area that was highlighted was anti-money laundering. The operator was shown to fail proof of funds checks when customers were spending significant amounts of money at the casino. It was said not to have been completing due diligence on checks.
It had a ‘Reinvestment of Winnings’ policy, but this was deemed insufficient as a way of confirming funds had not come from illegitimate or illegal sources.
A Strong Message
Speaking about the decision to issue the fine, Kay Roberts, Gambling Commission Executive Director of Operations, said that their focus as regulators is to ensure operators are using policies and procedures that keep gambling safe and to protect customers.
She added that the UKGC takes its responsibilities extremely seriously and that businesses not complying or maintaining standards will face significant regulatory actions.
The Gambling Commission has come into the spotlight over the last 12 months, with significant changes taking place all across the British gambling industry. Last month, a series of consultations began focusing on how to improve the efficiency of regulation in the sector.
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