British Gambling Commission fines Star Racing Limited
The regulator identified several breaches of anti-money laundering (AML) and social responsibility rules.
UK.- The Gambling Commission has issued a warning and a £594,000 penalty against Star Racing Limited for anti-money laundering (AML) and social responsibility failings. The operator has had extra conditions applied to its licence.
The British regulator flagged several failings committed between March 2020 and May 2021. It identified ineffective policies, procedures and controls, with Star Racing having allowed customers to deposit large sums before it obtained information on sources of funds information. It also failed to analyse the source of funds information it obtained.
The operator also committed social responsibility failures. The Gambling Commission said it had failed to demonstrate an understanding of the impact and effectiveness of its customer interactions on the minimisation of customer risk.
New conditions applied to the operator’s licence conditions will require Star Racing to conduct risk-based due diligence on third parties.
British Gambling Commission to launch four consultations this month
The Gambling Commission has announced that this month it will open four consultations laid out in the government’s gambling white paper following its review of the 2005 Gambling Act. It will publish consultations on online game design, financial risk and vulnerability checks for online gambling, direct marketing and cross-selling and age verification at land-based gambling venues.
The regulator will also open two consultations not mandated by the gambling white paper, on the rules for personal management licences and the procedures for regulatory panels. It said it had chosen to run these consultations at the same time in accordance with its plan to gather consultations into windows instead of running them sporadically at random times through the year.
