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UK Gambling Commission Imposes Fine on TGP Europe Limited for AML and Social Responsibility Failures

The UK Gambling Commission (UKGC) recently took action against TGP Europe Limited, a prominent operator in the UK. A significant fine of £316,250 ($253,150) penalty was imposed on the operator after multiple failures.The penalty was issued after various social responsibility and anti-money laundering (AML) breaches have been discovered within the company’s operations. Currently, TGP Europe holds the license for 19 websites, including well-known platforms such as BK8, Kaiyun, Fun88, and 12Bet.

Official Warning and License Conditions

In addition to the financial penalty, the UKGC issued an official warning to TGP Europe in terms of license breaches. Furthermore, the regulator confirmed there would be additional conditions attached to the operator’s license to ensure proper due diligence checks are conducted. This serves as a reminder to all licensees that regulations must be adhered to and all license obligations fulfilled.

Social Responsibility and AML Shortcomings

According to the Gambling Commission, TGP Europe’s operations revealed insufficient risk assessments for money laundering and terrorist financing. The company failed to address risks such as identity theft, false information, and the use of third-party information. Moreover, TGP Europe neglected to identify risks associated with large transactions.Additionally, the AML breaches include a lack of effective policies and procedures for conducting due diligence checks before entering white-label agreements. The UKGC found insufficient action from the company around mitigation and money laundering risks within business-to-business collaborations.In terms of social responsibility failures, players were able to gamble even though they had reached a safer gambling alert. The operator did not intervene at this point and allowed players to continue gambling

A Critical Oversight

One of the key concerns raised was TGP Europe’s reliance on automated interactions rather than human interactions after players were flagged by a safer gambling alert. According to the watchdog, the effectiveness of the automated interactions was not scrutinised by the operator, they failed to interact with the player via phone.Conclusion: A Cautionary Tale for the Gambling IndustryThe Gambling Commission’s actions against TGP Europe Limited serve as a stark reminder of the importance of adhering to industry regulations and upholding social responsibility. Operators must remain vigilant in conducting thorough due diligence checks, as well as actively identifying and addressing potential risks.The fine and additional license conditions imposed on TGP Europe emphasise the need for a more robust and comprehensive approach to anti-money laundering measures, social responsibility, and the overall protection of players. Ensuring a safer and more responsible gambling environment remains a top priority for the Gambling Commission and likewise for all operators within the gambling industry.

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