UK Gambling Regulator Fines Two Gambling Companies For Lack Of Due Diligence and AML Failings

The United Kingdom Gambling Commission (UKGC) has issued fines to two casino operators to the tune of £675,000 after reports found they had breached the UKGC anti-money laundering (AML) and social responsibilities to protect its customers from gambling-related harm.

Jumpman Gaming

One of the UK’S largest casino operators Jumpman Gaming which has in excess of 243 online gambling platforms was found to have strayed from the rules set out to prevent AML and failed to promote safer gambling in a bid to combat harms caused by gambling. The regulator fined Jumpman Gaming £500,000.During a compliance check and review of Jumpman’s remote gambling license, the UKGC found numerous failings regarding compliance and broke several rules included in the Licence Conditions, Codes of Practice, and Social Responsibilities.These include:

• Lack of customer interaction,
• Failings in anti-terrorist financing and anti-money laundering rules.
• Under licensing conditions, operators who are based in foreign jurisdictions must follow the country’s anti-money laundering, terrorist financing, and transfer of funds regulations
• Gambling operators must disclose rules to identify customers with multiple accounts

In terms of the above failings, the UKGC agreed on the sum of £500,000 with Jumpman Gaming, rather than the operator receiving a financial penalty, paying £13,594 to cover the UKGC investigation costs, the case, and agreeing to disclose an official statement related to the above case.

ProgressPlay

ProgressPlay is the second to receive a fine after a review of its Remote Casino and Betting Operating License. The UKGC found the operator failed to comply with the customer protection and anti-money laundering regulations.The company was fined £175,718 after the UKGC had considered the company’s full cooperation while the investigation took place and agreed with the findings. Again, the operator will pay the fine rather than receive further financial penalties. ProgressPlay will pay £12,466 to cover the UKGC costs incurred while conducting the investigation.