Legal News

Online gambling business fined £11.6m for failing customer due diligence

Published on: 12 March 2020
Published by LNB News

LNB News 12/03/2020

Document Information

Issue Date: 12 March 2020

Published Date: 12 March 2020

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

Betway, an online gambling business, has been fined £11.6m by the Gambling Commission over failings related to social responsibility and money laundering checks of ‘VIP’ customers. The business was found to have allowed £5.8m to flow through the business which has been found, or could reasonably be suspected to be, proceeds of crime. The investigation also revealed inadequate management oversight, and the regulatory is conducting investigations into responsible Personal Management Licence holders in the business.

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