UKGC fines operator for money laundering failures

The firm 32Red has been fined over consumer protection and money laundering failures.

UK.- The UK Gambling Commission (UKGC) has announced that 32Red has been fined £2 million for failing to protect a consumer and for money laundering issues. The regulator said that the problem involved a player who was allowed to deposit £758,000 between November 2014 and April 2017.

The UKGC said that during the two and a half year period 32Red failed its money laundering or social responsibility checks, as the customer was allowed to deposit a large amount of money and it didn’t spot 22 signs of problem gambling. Moreover, it also violated social and anti-money laundering regulations, as instead of spotting problem gambling issues, it encouraged players to spend more.

Gambling Commission Executive Director Richard Watson said: “Operators must take action when they spot signs of problem gambling and should be carefully reviewing all the customers they are having a high level of contact with. Protecting consumers from gambling-related harm is a priority for us and where we see operators failing in their responsibility to keep their customers safe we will take tough action.”