Compliance Updates
UKGC Imposes £322,000 Fine on Betfred for Money Laundering Failures

The UK Gambling Commission (UKGC) has imposed a fine of £322,000 on online gambling operator Petfre, trading as Betfred, for money laundering failures.
An investigation by the Gambling Commission revealed that the operator failed to carry out adequate source of funds checks on a customer who deposited £210,000, and lost £140,000, of stolen money in a 12-day period in November 2017. A customer being able to deposit and lose such significant amounts in such a short period of time clearly indicated failings in the effectiveness of Petfre’s anti-money laundering policies and procedures.
As part of this settlement, Petfre will return £140,000 to the identified victim and make a £182,000 payment in lieu of a financial penalty which will be spent accelerating delivery of the National Strategy to Reduce Gambling Harms.
-
Asia6 days ago
International Chess Day: How India’s ancient game is evolving into a rising force in esports
-
Latest News7 days ago
Clickobet: Innovative Gaming Solutions for Modern Betting Shops
-
Asia7 days ago
Out! SPRIBE announces Indian cricket icon Harbhajan Singh as Aviator brand ambassador
-
Interviews6 days ago
Christos Zoulianitis: How ENJOY is shaping the next generation of iGaming
-
Latest News6 days ago
Danes Spent More on Gambling in May 2025
-
Latest News7 days ago
Red Rake Gaming releases Super 60 Stars, the newest slot in its successful Super series
-
Latest News6 days ago
Week 29/2025 slot games releases
-
Latest News6 days ago
GGPoker Launches WSOP Express: Your Fast Track To Poker’s Biggest Live Events!