Compliance Updates
UKGC fines Platinum Gaming Ltd £1.6m for social responsibility and money laundering failures

AN online gambling operator will pay £1.6m for failing to identify gambling harm and prevent money laundering.
The Gambling Commission launched an investigation following reports that a convicted fraudster had spent £629,420 of stolen money with Platinum Gaming.
During Commission enquiries it was revealed the customer’s deposits were so high and losses so significant Platinum Gaming should have considered refusing or barring service to the customer. Instead the operator continued to allow the customer to gamble.
Investigations also revealed the operator breached anti-money laundering regulations, including a failure to make adequate enquiries about the source of the funds the customer used to gamble.
As part of a settlement with the Commission, Platinum Gaming returned £629,420 to the fraudster’s victims and will pay £990,200 in lieu of a financial penalty. This money will be spent accelerating delivery of the National Strategy to Reduce Gambling Harms.
Richard Watson, Gambling Commission Executive Director, said: “There were weaknesses in Platinum Gaming’s systems and as a consequence, more than half a million pounds of stolen money flowed through the business. This is not acceptable and I would urge all operators to carefully read this case and learn lessons so they don’t make the same mistakes.”
“This is yet another example of us taking firm action against online operators who fail to protect consumers or implement effective safeguards against money laundering. We must see the industry stepping up and providing consumers in Great Britain with the safest and fairest gambling market in the world. Where we continue to see failings, we will continue to take action.’
-
Asia5 days ago
BETBY TRIUMPHS AT SiGMA ASIA MANILA, WINNING BEST ESPORTS PROVIDER AWARD
-
Interviews6 days ago
Why crash has become big business for operators and suppliers
-
Interviews5 days ago
Bet Builder Q&A w/Abelson Sports’ CBO Jeevan Jeyaratnam
-
Latest News6 days ago
Veikkaus Enters into Long-term Partnership with Jokerit
-
Balkans6 days ago
Evoplay partners with Palms Bet to strengthen Bulgarian presence
-
Compliance Updates6 days ago
Lukashenko Says Gambling Establishments Should Introduce Moratorium on Gaming in Debt
-
Conferences in Europe5 days ago
WiseGaming ready to showcase agile platform at SBC Malta
-
Latest News5 days ago
Nolimit City revisits our favourite dwarf in Fire In The Hole 3