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Compliance Updates

UKGC: Ladbrokes Coral Group to pay £5.9m for past failings in anti-money laundering and social responsibility

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UKGC: Ladbrokes Coral Group to pay £5.9m for past failings in anti-money laundering and social responsibility
Photo Source: riskscreen.com
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Systemic failings at the Ladbrokes Coral Group has led to a penalty package including a series of improvement measures that must be implemented by new owner GVC and a £5.9m payment, while further investigations into the actions of Personal Management Licence holders continue.

An investigation by the Gambling Commission found between November 2014 and October 2017 Ladbrokes and Coral failed to put in place effective safeguards to prevent consumers suffering gambling harm and against money laundering, with this failing continuing after their merger as the Ladbrokes Coral Group.

As a result the following occurred:

  • Ladbrokes did not carry out any social responsibility interactions with a customer who lost £98,000 over two-and-a-half years, had 460 attempted deposits into their account declined, and even asked the operator to stop sending promotions.
  • Despite one customer spending £1.5m over two-years 10 months, Coral did not ask the customer to evidence their source of funds and could not provide evidence of any social responsibility interactions being carried out. During their time with the operator the customer displayed signs of problem gambling including logging into their account an average of 10 times a day for a month and losing £64,000 in one month alone.
  • Ladbrokes could not provide any evidence of carrying out social responsibility interactions with a customer who deposited over £140,000 in the first four months of their account being open.
  • Ladbrokes, having identified concerns with a customer, then allowed further significant gambling without taking additional steps to verify the source of funds or consider if the customer could afford to spend and lose that amount of money.

Richard Watson, Commission Executive Director, said: “Decision makers at gambling businesses need to invest in the welfare of their customers and the integrity of money being gambled with.

“These were systemic failings at a large operator which resulted in consumers being harmed and stolen money flowing though the business and this is unacceptable.”

As part of this settlement the Ladbrokes Coral Group’s new owners GVC will pay £4.8m in lieu of a financial penalty and will divest £1.1m gained from customers as a result of its failings. GVC will also review the top 50 customers for the years 2015-2017 to consider whether any further failings can be identified, and if so they will divest themselves of profit accordingly.

GVC has committed to making a number of improvements to the business including overhauling its responsible gaming and customer interaction processes, retraining staff, and hiring new staff.

The Gambling Commission is still making enquiries into the role Personal Management Licence holders played in these failures.

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Compliance Updates

GoldenRace is now certified in the Netherlands

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GoldenRace is now certified in the Netherlands
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GoldenRace, global provider of award-winning Virtual Sports and betting solutions, has recently obtained a certification for its highly acclaimed Virtual Sports and Games in the Dutch market.

GoldenRace successfully navigated the stringent regulatory landscape of the Netherlands, and now will be providing its impressive betting products into the Online Dutch market, which will be an important advancement in our operational expansion.

The Netherlands betting scene is on the cusp of a substantial growth phase and with GoldenRace’s latest certification, we introduce to the Dutch market a range of highly popular games tailored to desktop and mobile, in both scheduled and on-demand modes.

Among the offer, players will enjoy our most-played Virtual Football line-up – including Football Single, Leagues, World Cup and Euro Champions-, adrenaline-pumping 3×3 Basketball and MMA and top-notch races as Horse Racing, Greyhound Racing and Grand Prix Indianapolis 60. Last but not least, our Number Games, such as Spin2Win. All ready to captivate Dutch players.

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PAGCor Welcomes Lawyer Wilma Eisma as New President and Chief Operating Officer

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The Philippine Amusement and Gaming Corporation (PAGCor) today welcomed its new President and Chief Operating Officer, lawyer Wilma Eisma, who took her oath of office before Executive Secretary Lucas Bersamin in Malacanang this morning.

“We are happy to welcome Atty. Wilma Eisma as PAGCor’s new President and Chief Operating Officer,” PAGCor Chairman Alejandro Tengco said. “We know she will be a great asset and her vast experience in both the government and private sectors will surely be put to good use here.”

Tengco said he witnessed Eisma’s oath-taking in Malacanang this morning. She then immediately joined her first PAGCor board meeting in the afternoon as the agency’s first ever woman President and Chief Operating Officer.

A lawyer by profession, Eisma earned her law degree from the Ateneo de Manila University and was a member of the Board of Directors of the Development Bank of the Philippines before joining the state gaming firm.

Prior to that, she also served as the first woman Administrator and Chairman of the Subic Bay Metropolitan Authority (SBMA).

Her private sector stints include leadership roles in PMFTC Incorporated, the Philippine affiliate of Philip Morris International.

She also held key positions at the Department of Trade and Industry where she worked at the Office of the Secretary and in the Office of the Majority Leader in the House of Representatives, among others.

Eisma succeeded Atty Juanito Sanosa Jr who resigned as PAGCor President and Chief Operating Officer last January.

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Compliance Updates

MGA: Update to the Incident Reporting Requirements

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MGA: Update to the Incident Reporting Requirements
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The Malta Gaming Authority would like to inform its licensees of updates made to the Incident Report mechanism available through the Licensee Portal The information hereunder outlines relevant guidance and procedures for the submission of an Incident Report through the updated reporting instrument entitled the ‘Technical – Information Security Incident’.

As mandated by Articles 37(2)(c) and (d) of the Gaming Authorisations and Compliance Directive (Directive 3 of 2018), “Licensees shall notify the Authority forthwith, and in any case no later than three (3) working days after, the following:

(c) Any breach of the licensee’s information security that adversely affects the confidentiality of information relating to players;

(d) Any breach of the licensee’s information security that precludes players from accessing their accounts for a period exceeding twelve (12) hours.”

In this regard, Licensees are obliged to submit an Incident Report in order to notify the Authority of the circumstances relating to an information security breach that meet the above specified criteria. Additionally, Licensees are advised to remain mindful of any further obligations emanating from the General Data Protection Regulation (EU/2016/679) and any relevant legislation.

The Technical – Information Security Incident option will be accessible through the “New/Change” dropdown menu via the Portal. Upon selection, users will be directed to the applicable sections of the ‘Technical – Information Security Incident’ where all compulsory fields and any relevant documentation must be submitted to the Authority.

Upon submission, the Incident Report shall undergo review by the Authority. Any missing information that may be identified by the Authority, shall be requested accordingly from the Licensee. It is imperative that any pending clarifications are addressed in a timely manner.

If no further clarifications are deemed necessary by the Authority, the Incident Report will be closed off accordingly, and any relevant documentation will be securely filed for record-keeping purposes.

Any Incident Reports left in ‘Draft’ form (i.e. opened but not effectively submitted) for a period of ninety (90) days shall be automatically discarded.

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