The operator has been penalised by the UK Gambling Commission for money laundering failures.
UK.- The Gambling Commission has handed BoyleSports a £2.8m penalty following an investigation into money laundering failures.
The Commission found that the operator’s Boylesports.com and Boylecasino.com had failed to guarantee “appropriate money laundering risk assessments”.
It has ordered the operator to fulfil additional requirements on its online gambling licence. It must hire a money laundering reporting officer to inspect transactions and submit AML reports to the Commission.
On top of that, all personal licence holders, senior management and staff must complete outsourced anti-money laundering training.
The Commission said it will continue to review BoyleSports’ implementation of AML policies and controls.
The Gambling Commission’s executive director, Richard Watson, said: “It is vital that all gambling businesses have effective anti-money laundering policies and procedures firmly in place and as part of our ongoing drive to raise standards we will continue to take tough action against operators who do not.”
This week the Gambling Commission has published its first-ever National Strategic Assessment outlining achievements and priorities.