Gambling Commission imposes £650,000 penalty on NetBet for AML and social responsibility failures
The Gambling Commission has imposed a £650,000 financial penalty on NetBet Enterprises Limited, operator of netbet.co.uk, following an investigation that identified anti-money laundering (AML) and social responsibility failures. The AML failures included over-reliance on financial triggers allowing customers to spend disproportionally in relation to their net income, failure to identify concerning gambling behaviours as high risk, and omission of key risks from money laundering and terrorist financing risk assessments including third-party business relationships and high stakes gambling controls. Social responsibility failures encompassed inadequate customer interaction systems that failed to minimise gambling-related harm and delayed identification of harm indicators such as overnight play and velocity of deposits.