Author Topic: UKGC Slams 888 with £9.4 Million Fine over AML and Responsible Gambling Failures  (Read 531 times)

0 Members and 1 Guest are viewing this topic.

Offline e_abramsTopic starter

  • Sr. Member
  • ****
  • Posts: 376
  • Karma: +1/-0
    • View Profile
 The United Kingdom Gambling Commission announced that it is fining 88 Holdings with £9.4 million. The company behind 888Casino and a number of other popular brands will have to pay that significant fine due to social responsibility and anti-money laundering failures. What is more, they will have to be subjected to independent audits.
According to the UKCG the company allowed players to deposit £40,000 before the source-of-fund checks were triggered and also allowed them to gamble during the period of verification. On top of that, they accepted verbal assurances from customers about the source of the funds being deposited   and sometimes allowed them to deposit more than £60,000 before being checked.
That is a pretty heavy fine but they were aware of their licensing rules and broke them anyway.


UKGC Hits Mr Green with £3m Penalty over Regulatory Failures

Started by e_abramsBoard Game

Replies: 0
Views: 536
Last post May 12, 2022, 06:31:09 PM
by e_abrams
#BitFlyer Slapped With a $1.2 Million Fine for Violating Cybersecurity Rules

Started by JohnsonBoard Marketplace

Replies: 0
Views: 118
Last post May 03, 2023, 11:31:54 PM
by Johnson
Buy Peermoon tokens, get up to 30% Bonus! $4,17 million raised

Started by cryptospBoard Off-topic

Replies: 1
Views: 364
Last post March 27, 2022, 03:16:45 PM
by e_abrams

Started by cryptospBoard Goods

Replies: 0
Views: 451
Last post June 09, 2022, 03:58:55 PM
by cryptosp
SEC Cracks a Sibling Led $124 Million Securities Fraud Scheme

Started by e_abramsBoard Litecoin discussion

Replies: 0
Views: 234
Last post April 27, 2022, 05:27:12 PM
by e_abrams