Betfred To Pay £322,000 For Money Laundering Failures

Discussion in 'Casino Industry Buzz and Terms Alerts' started by MissExposé, Oct 23, 2019.

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    MissExposé

    MissExposé Active Member Staff Member

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    Betfred will have to pay a fine of £322,000 for failures in controlling money laundering activities.

    The UKGC investigation led to findings that revealed operators’ lack of action in finding the source of funds of a customer who deposited £210,000 and lost £140,000. It turned out that the said money was stolen.

    This caught UKGC’s attention because a situation in which a customer deposits and loses such a big amount of money in such a short period of time clearly shows the lack of control on operator’s end.


    More info: https://lcb.org/news/betfred-ordered-to-pay-322-000-by-ukgc-for-money-laundering-failures
     
    Zuga and BetOnlineUK like this.

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