The UK Gambling Commission has fined TonyBet £442,750 (€505,688) for failing to have fair and transparent terms, and for social responsibility and anti-money laundering (AML) failings.
According to the announcement, the Commission found that TonyBet had published unfair terms and conditions on its website including:
- Identification required for ‘all withdrawals’ while not having insisted on those same checks earlier in the business relationship
- Winnings could be confiscated if consumers failed to provide AML documentation within 30 days.
- Following six months of inactivity, accounts are considered dormant.
The investigation also found that TonyBet had failed to identify customers who may have been at risk or experiencing the effects of gambling harms and insufficient communication with those who were identified.
AML failings included inadequate risk assessments for potential money laundering and terrorist financing. There were also insufficient protocols in place to prevent these criminal activities associated with those risks.
Speaking of the penalty, Kay Roberts, Executive Director of Operations, said:
“Not only does this case illustrate our drive to clamp down on anti-money laundering and social responsibility failures, but also highlights action we will take against gambling businesses who fail to be fair and open with customers.”
Gambling industry fines in 2022 came to £220,948,192 / $269,532,490 – a significant increase of 443.9% compared to 2021’s total of £39,283,498 / $48,642,992
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.