The UK Gambling Commission has announced that it has fined online gambling operator Gamesys Operations Limited £6 million ($7.6 million/€6.9 million) for social responsibility and Anti-Money Laundering (AML) failings.
According to the announcement, the company must undergo a third-party audit in the near future to ensure that it is compliant with AML and social responsibility guidelines and regulations.
Gamesys currently operates 16 websites:
- ballycasino.co.uk
- doublebubblebingo.com
- jackpotjoy.com
- megawayscasino.com
- heartbingo.co.uk
- monopolycasino.com
- rainbowriches.co.uk
- rainbowriches.com
- rainbowrichesbingo.co.uk
- rainbowrichescasino.co.uk
- rainbowrichescasino.com
- rainbowslots.co.uk
- rainbowslots.com
- smoothbingo.co.uk
- smoothbingo.com
- virgingames.com
Social Responsibility Failures
The investigation which took place in May 2022 revealed the following failures:
- Failing to identify customers at risk of experiencing harms associated with gambling.
- Inadequate deposit limits system; one customer deposited £8,255 within three days of opening an account while another lost £5,968 within five weeks of opening account and another lost £17,482 within 34 days of opening an account.
- Failing to interact with customers at risk. For example one customer was only contacted after they had lost almost £10,000. This customer was given new promotions and game recommendations. Another customer who lost £19,709 over five months had only one interaction with the company.
- Failing to maintain adequate records for interactions and decision based on those interactions.
AML Failures
Anti-money laundering failures included:
- Some customers able to avoid AML triggers/thresholds and spend significant sums without checks – three customers deposited £14,585, £18,884, and £34,280 each with no checks carried out.
- Inadequate customer due diligence and relying on the customer’s verbal assurances for deposits. This included customers who each deposited £25,000, £58,000, and £65,000.
- Having a ‘Reinvestment of winnings policy’ which failed to take into account that funds could be from illegitimate sources and not just from previous winnings.
Speaking of the fine, Kay Roberts, Executive Director of Operations, said:
“Our focus as a regulator is to ensure that operators are employing policies and procedures which make gambling fair, safe and crime-free.
“We take this responsibility extremely seriously and whenever we find failures in policies and procedures then the business can expect significant regulatory action.”
This is the first fine that the Gambling Commission has issued in 2024. In 2023, the UKGC issued £214.2 million/$271.6 million/€247.3 million in fines as total fines across the globe hit a record £347.7 million/$442.6 million/€402 million.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.