The UK Gambling Commission constantly examines the actions of the businesses in the iGaming industry. Lastly, we informed SkyBet was suspected of targeting problem gamblers so we have to wait and see what the investigation leads to.
Entain Group, on the other hand, will pay £17 million for failures related to social responsibility and anti-money laundering. UKGC found these failures both in the online and the land-based business of the Group.
The biggest part of this amount or £14 million, is a fine for its online business supporting 13 websites. The rest of the total amount or £3 million is for its Ladbrokes Betting & Gaming Limited operation running in 2,746 gambling premises across Britain.
Entain Group will be imposed additional license conditions
The amount of money that the company will pay will be directed towards socially responsible purposes according to the regulatory settlement.
The Commission will also give the company additional license conditions. These will aim to ensure a business board member oversees an improvement plan. Also, it will be required for a third-party audit to review its compliance within 12 months.
Andrew Rhodes, who is a UKGC chief executive said their investigation revealed serious failures resulting in the largest enforcement outcome to date. He comments that there were unacceptable anti-money laundering and safer gambling failures.
“Operators are reminded they must never place commercial considerations over compliance.”
Rhodes reminds us this is the second time the operator didn’t follow the rules in place to make gambling safer and crime-free.
“They should be aware that we will be monitoring them very carefully and further serious breaches will make the removal of their licence to operate a very real possibility. We expect better and consumers deserve better,” he concludes.
Social responsibility failures of Entain Group
There are several social responsibility failures the Commission confirmed about the Entain Group. These include, for instance, a failure in the interaction with certain customers that would have minimised their risk of experiencing gambling harm. An example is a customer spending a lot of time gambling overnight and depositing £230,845 in an 18-month time.
Another failure the Commission found was that customers were allowed to open multiple accounts with the Licensee’s other brands. This means a blocked user from one account was able to open another account on another brand and deposit £30,000 in a day.
Social responsibility failures of the Group include failing to escalate a customer for a safer gaming review by the shop. Also, local staff and managers failed to escalate potential concerns with customers sooner.
Anti-money laundering failures of Entain Group
The Entain Group has more anti-money laundering than social responsibility failures. One is related to inadequate risk assessment of the risks in its online business. Other two are about depositing large amounts without all of the needed SOF checks and failing to conduct enhanced customer due diligence checks soon enough.
Placing excessive reliance on open-source information is another failure of this business. The Group has also allowed customers to stake large amounts of money without having been monitored or scrutinised.
The UK Gambling Commission has backed up each failure with examples.