BV Gaming to pay £2m for AML and responsibility failings in Britain

The Gambling Commission has sanctioned the BetVictor operator for a range of failings.

UK.- BV Gaming, the operator of BetVictor, will pay a £2m penalty for a number of failings identified by the Gambling Commission. The regulator discovered a range of failings on anti-money laundering, social responsibility and fairness in a compliance assessment carried out in March 2020.

A group AML risk assessment did not meet standards and inadequately identified risks of money laundering and terrorist financing. It also lacked detail considering the size of BV Gaming’s business. Meanwhile, it failed to comply with social responsibility provisions and was found to lack sufficient responsible gambling policies, controls and practices.

The Gambling Commission said BV Gaming had recognised its failings and had cooperated and taken steps to remedy them.

The operator, which also runs Heart Bingo and Parimatch.co.uk, will pay a regulatory settlement of a £325,000 divestment of GGY and a £1.72m payment to the National Strategy to Reduce Gambling Harms in lieu of a financial penalty.

It also had to agree to a public statement on the case and to pay £11,000 towards the costs of the Gambling Commission’s investigation.

Gambling Commission director of enforcement Leanne Oxley said: “As a gambling regulator our focus is on ensuring that gambling in Britain is fair, safe and crime-free, and BetVictor failed consumers by breaching rules aimed at achieving these objectives.

“Non-compliance – no matter what the reason – will never be a viable business option for gambling businesses. We will always be tough on operators who fail in this way.”

Earlier this week, the sports betting and gaming operator Novibet surrendered its Gambling Commission remote gambling licence and ceased operating in the British market. It said the decision was taken for commercial reasons.

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