Gibraltar’s Gambling Commissioner has agreed a regulatory settlement of £850,000 (€1 million) with Onisac Ltd. following an investigation which uncovered anti money laundering (AML) failures.
According to a statement released by the Gibraltar government’s gambling division, Onisac (owned by the Mansion Group) failed to act on advice previously given by the Commission when AML failures were first spotted some time ago.
A recent review of the company’s casino.com and slotsheaven.com websites found that the company had failed to implement the correct AML protocols for new customers and those making large deposits.
The regulator noted that the historical errors were made by previous management and that the current leadership team were fully co-operative and have committed to an action plan that will ensure these types of failures do not happen again in the future. According to the commissioner, this clear commitment to improve compliance and social responsibility controls was a major factor in the regulator’s willingness to accept a relatively small settlement.
The money received through the settlement will go directly to Gibraltar’s consolidated fund.
Onisac Ltd. will face no further action at this time and can continue to operate under its Gibraltar gaming license.
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Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.