Gambling operator LeoVegas will pay a £1.32million fine for social responsibility and anti-money laundering failures.
The operator – which operates leovegas.com, slotboss.co.uk, pinkcasino.co.uk, betuk.com and 21.co.uk – will also receive an official warning and undergo an audit to ensure they are indeed putting implement its anti-money laundering and social responsibility policies, procedures and controls.
Leanne Oxley, Director of Enforcement and Intelligence for the Gambling Commission, said: “We have identified this through targeted compliance activity and will continue to take action against other operators if they do not. not learn from our application work.
“This case is another example of operators failing to protect their customers and not being aware of the money laundering risks within their business.”
Social accountability failures included:
- set spend triggers for Safer Gambling Team customer review significantly higher than average customer spend without any explanation as to how this was appropriate
- fixing six hours as the time when customers were forced to take a 45-minute cooling-off period without explaining how they concluded that playing for six hours was when the harm would occur
- failing to act on their own policy for interacting with customers showing indicators of harm, including declined deposits, canceled withdrawals, long gaming sessions, gaming sessions taking place late at night or early in the morning
- not taking sufficient account of the Commission’s 2019 guidance on interaction with customers.
Anti-money laundering failures included:
- financial triggers for anti-money laundering reviews are too high and unrealistic to effectively manage money laundering and terrorist financing risks
- relying too heavily on ineffective threshold triggers and inadequate information regarding how much a customer should be allowed to spend based on income or wealth, or any other risk factor
- inadequate controls allowing significant levels of gambling spending to take place in a short period of time without knowing anything about the financial status of customers.
Read the full sentence from LeoVegas Gaming PLC.
Last updated: August 3, 2022