Rank’s Daub Alderney has been fined £5.8m for social responsibility and AML failings.
UK.- The British regulator, the Gambling Commission, has issued an official warning and a £5.8m fine to Daub Alderney after identifying social responsibility and anti-money laundering failings.
Daub Alderney, which operates Kittybingo and Regalwins, is part of Stride Group which Rank Group acquired in October 2019.
The Gambling Commission found that the operator did not have appropriate measures to detect or prevent problem gambling in incidents that occurred between January 2019 and March 2020.
In one case, a customer who displayed signs of problem gambling lost £45,410 in four months. At one point, the customer used four different payment cards in a single day. They also reversed £133,873 in withdrawals.
In another incident, Daub Alderney sent only two safer gambling reminders and a single pop-up to a customer who spent £40,500.
The Gambling Commission also found that Daub Alderney had ineffective policies to tackle money laundering and terrorist financing. It found that the operator failed to ask for proof of funds from a customer who deposited £41,500.
The Gambling Commission’s decision is open to appeal.
Helen Venn, executive director of the Gambling Commission, said: “This case was the result of planned compliance activity and every operator out there should be aware that we will continue to take firm action against those who fail to raise standards.
“The licensee’s culpability, and the requisite penalty reflecting that culpability, cannot be affected by the fact that its shares have now passed from one set of investors to another.
“The Licensee does not escape or mitigate the consequences of its actions because its shares are sold.”
Last week, Rank Group promoted Stride Gaming’s Eitan Boyd to the role of group chief Innovation officer (CIO). Meanwhile, CFO Bill Floydd is expected to step down by the end of the year to move to Watches of Switzerland Group.