Regulator Fines Betting Operators £4.5M Over AML Failings
Law360, London (May 15, 2019, 4:40 PM BST) -- Britain's Gambling Commission said Wednesday it has slapped four online casino operators with fines totalling £4.5 million ($5.8 million) for failing to protect themselves against money laundering, as the agency continues its investigation into the sector.
The businesses have been punished for failing to put in place effective safeguards to prevent money laundering and protect customers, the government agency said.
“We have been working hard to raise standards in the online industry to ensure that gambling is crime-free, Richard Watson, the commission’s executive director, said. “We expect operators to know their customers and to ask the right questions to make sure they meet...
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