Online Casino Fined £6M Over Money Laundering Lapses

Law360, London (March 26, 2021, 1:15 PM GMT) -- A gambling company that failed to properly check the source of its customers' funds has been hit with a £6 million ($8.3 million) fine for failings in its money laundering controls and lapses of social responsibility, the sector's regulator has said.

Malta-based Casumo Services Ltd., which runs, will also be handed an official warning, the Gambling Commission said in a statement outlining a string of AML violations by the business.

The regulator said the company carried out inadequate checks on the source of the money, and that it found pay slips that were not backed up with bank statements.

Casumo also...

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