Online gambling operator, Gamesys, has been ordered to pay £1.2m after the Gambling Commission discovered that it had failed to prevent gambling harm and breached money laundering regulations.
The Gambling Commission launched an investigation after a police report revealed that three individuals had funded their accounts with stolen money.
The company failed to request additional information to verify the source of funds of the customers’ transactions. As part of its settlement, Gamesys will return £460,472 to the victims.
The investigation also revealed that Gamseys failed to interact with customers displaying problem gambling behaviours.
A payment in lieu of a financial penalty of £690,000 will be donated to the National Strategy to Reduce Gambling Harms, the Gambling Commission’s three-year strategy to help tackle issues of problem gambling.
Richard Watson, Gambling Commission Executive Director, said: “It is vital that operators understand their customers – track their online gambling and step in quickly when they suspect someone is suffering from gambling harm.
“These key steps and processes ensure they meet both their anti-money laundering and social responsibility obligations for all customers.
“Gamesys’ approach resulted in a variety of failings and saw stolen money flowing through the business – with customers being put at risk of gambling-related harm.”
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