U.K. gambling regulators have cracked down on industry giant bet365 in response to anti-money laundering and social responsibility failures.
The U.K.’s Gambling Commission announced in a release on Thursday that Hillside ENC’s UK Gaming and UK Sports arms, which hold licenses for bet365’s casino and sports betting efforts in the U.K., will pay a combined £582,120, with the funds directed towards what the gambling commission describes as socially responsible causes.
The betting giant also reportedly had specific failings related to enhanced customer due diligence and know-your-customer triggers that were not capable of managing ML risk, according to a Next.io report.The regulatory settlement between the U.K. Gambling Commission and the at-fault parties marks a first for the UKGC, though it’s nothing new for the regulatory body to slap culprits with hefty fines. Back in January, another major player in the U.K.
The effort also marks a continued crackdown in the U.K. around online gambling in recent weeks. Growing voices in the U.K. market have called for aCopyright © 1995 - 2024 CS Media Limited All Rights Reserved. If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so. It is your sole responsibility to understand your local laws and observe them strictly.