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Bet365 has been ordered to pay £582,120 due to shortcomings in anti-money laundering measures and social responsibility within its online operations.
Hillside (UK Gaming) ENC, which oversees licensing for Bet365’s bingo and casino offerings, will contribute £343,035, while Hillside (UK Sports) ENC, responsible for betting licenses, will provide £239,085.
All £582,120 of the settlement will be allocated to socially responsible initiatives as part of an agreement reached with the UK Gambling Commission.
The Commission discovered these deficiencies during an evaluation of the regulatory framework in March 2022.
Social responsibility failures
- The customer interactions were not tailored to individual risks or harms, making them ineffective.
- Early Risk Detection System did not adequately evaluate the impact of customer interactions on their behavior and actions.
- The methods of evaluation were not sufficient to determine if the customer understood or acted on information and advice provided.
Anti-money laundering failures encompassed:
- Effective customer due diligence is not sufficient to reduce money laundering risks.
- New customers are not properly screened for financial sanctions before they make their first deposit.
- The use of self-verification by customers without any independent checks to verify the information.
- Inadequate detail in procedural documents regarding customer risk profiling categorizations.
Kay Roberts, Director Executive of Operations for the Gambling Commission said:
Although the shortcomings in policy and procedures may not be as bad as what has been seen at other gambling businesses in recent years they still remain failures. Operators must adhere to strict standards to ensure the integrity, safety and fairness of their gambling. We will intervene on any inconsistencies. This operator must understand that the regulatory regime will become more strict if these mistakes are repeated.
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