Ultimately, it was revealed that Paddy Power Betfair had failed to adequately interact with customers who were displaying signs of problem gambling. It turns out they also failed to carry out anti-money laundering checks.Five customers were particularly flagged up, two of the five were using Paddy Powers Betfair exchange. In other words, their shops. The remaining customers were using the online site. Personally, I think it would be interesting to see how Paddy Power Betfair treated say, a random thousand players and see that report. I think that would show us a truer reflection of operations. I definitely don’t agree with any misconduct and behind every customer is a person. But out of the tens of thousands that play everyday, five customers were flagged up. It’s tough for shops to “read the signs” when these individuals are likely to be trying their hardest to disguise their intentions. I would also like to know what penalties the individual’s (customers) faced for their own criminality. I don’t believe gambling should be used as a reason to excuse theft of any kind. Richard Watson, Gambling Commission Executive Director, said: “As a result of Paddy Power Betfair’s failings significant amounts of stolen money flowed through their exchange and this is simply not acceptable. Operators have a duty to all of their customers to seek to prevent the proceeds of crime from being used in gambling.“These failings all stem from one simple principle – operators must know their customer. If they know their customer and ask the right questions then they place themselves in a strong position to meet their anti-money laundering and social responsibility obligations.” What do you think about the gambling commissions penalty fine to Paddy Power Betfair?Also what’s your personal experience with them?
Paddy Power Betfair Fined £2.2 million
