Greentube Alderney fined by the UKGC

Simona Boshkova | Published 9 Dec 2021, 9:10 a.m.

The UK Gambling Commission (UKGC) continues to check the gaming operators’ work and issue fines if some of them don’t comply with its regulations. You might remember that UKGC suspended BGO’s operating licence back in October this year due to concerns about activities that have been carried out contrary to the Gambling Act.

Another operator that got fined by the UKGC in October was VGC Leeds Limited, which had to pay £450,000 for social responsibility and anti-money laundering failures.

Recently, the gambling regulator announced that it conducted an investigation into Greentube Alderney’s work and found social responsibility and money laundering failures. As a result, the business must pay £685,000.

The investigation revealed serious failings

Greentube Alderney is a company that operates admiralcasino.co.uk and bellfruitcasino.com. It was recently investigated by the UK Gambling Commission, after which it was found to have failed to comply with the regulations. Therefore, the company will pay £685,000 and will also undergo extensive independent auditing for the failures which occurred between December 2019 and November 2020.

According to the Commission, Greentube Alderney failed to interact with customers in a way that minimises the risk of customers experiencing gambling harms. Moreover, among the failures, the UKGC found that the operator failed to conduct adequate assessments of the risk of money laundering.

Further serious issues include failure to have in place and implement appropriate policies, procedures and controls to prevent money laundering. Finally, Greentube Alderney was found to have failed to alert the Commission to an event that could have a significant impact on the nature or structure of a licensee’s business.

Helen Venn, Commission Executive Director, said: “Compliance with Commission rules aimed at keeping people safe and gambling crime-free is not optional. We will always take firm action against those operators who fail to meet the high standards we expect for consumers in Britain.”

Greentube Alderney’s response

Greentube Alderney has responded and accepted its failings. The operator said that its policies were not sufficient enough to make provisions for monitoring money laundering risks during out-of-hours. 

It also admitted that its record-keeping processes in place at the time of the Commission’s investigation were not adequate. It acknowledged that its customer interactions were “overly reliant on its £1,000 30-day net loss threshold to identify potential signs of problematic gambling”.

The operator further confessed it did not carry out the source of wealth or source of funds immediately after the identification of a politically exposed person. 

Apart from the £685,000, Greentube Alderney will also pay £8,789.86 towards the Commission’s costs of investigating the case.

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