The Gambling Commission fined popular online casino Mr Green with a £3m fine for what they described as “systematic failings” in both money-laundering prevention and creating a safe gambling environment.
The online casino site – which is owned by William Hill – didn’t comply with regulations regarding the protection of gambling addicts. In addition, they failed to monitor where the money being deposited into the website originated.
The UKGC’s investigation was focused on individual cases where the company didn’t follow AML policies as obligated.
According to their statement, Mr Green accepted a decade-old document as evidence for a client who made over £1 million in deposits. The document was showing £176,000 payout from 10 years ago, and Mr Green treated it as valid proof of the money source. On another occasion, Mr Green didn’t freeze the account of a player who won £50,000 before he gambled it away and made several more deposits.
The UK Gambling Commission has put a lot of effort into paying closer attention to the online casino industry, and Mr Green is the ninth company to face penalties due to lack of compliance with current regulations and AML policies.
Since 2018, the UKGC has issued £20m in penalties to online gambling platforms.