Gamesys Operations Limited, a major gambling business managing 16 websites, has been fined £6 million after a detailed investigation by the Commission. The investigation, which followed a compliance assessment in May 2022, revealed serious issues in the company’s social responsibility and Anti-Money Laundering (AML) practices.
Websites Under Scrutiny
Gamesys Operations Limited, which runs websites like ballycasino.co.uk, doublebubblebingo.com, jackpotjoy.com, and megawayscasino.com, now faces an extensive third-party audit. This audit will ensure their anti-money laundering and safer gambling policies, procedures, and controls are properly in place.
Nature of the Failings
The Commission’s investigation uncovered several key areas of concern, particularly in the company’s social responsibility and anti-money laundering efforts:
- Social responsibility failures were apparent in the company’s inability to identify customers at risk of gambling-related harm.
- They inappropriately relied on financial distress checks to identify gambling harm, missing other red flags.
- Deposit limits didn’t identify risks of harm quickly enough. In one case, a customer deposited £8,255 within three days without triggering a response.
- There was a lack of engagement with customers showing signs of gambling harm. One customer lost almost £10,000 before being contacted, and the focus was on promoting new games.
Anti-Money Laundering Shortcomings
The company also failed in several areas related to anti-money laundering:
- Customer due diligence was inadequate, with too much reliance on third-party information or customer assurances.
- The ‘Reinvestment of winnings policy’ did not sufficiently address the risk of funds from illegitimate sources.
Regulatory Stance
Kay Roberts, Executive Director of Operations, stressed the regulator’s commitment to ensuring that operators enforce policies promoting fair, safe, and crime-free gambling.
“We take this responsibility extremely seriously and whenever we find failures in policies and procedures, the business can expect significant regulatory action,” said Roberts.
This fine is one of the larger penalties recently, highlighting the regulator’s determination to uphold compliance in the gambling industry.