Connect with us

Compliance Updates

UKGC Imposes £2.9M Fine on Betfred’s Parent Company

Published

3 years ago

on

Reading Time: 2 minutes

 

The UK Gambling Commission (UKGC) has imposed a fine of £2.87m on Petfre (Gibraltar) Limited for social responsibility and anti-money laundering failures. The operator has also received an official warning for failures at the business.

Leanne Oxley, Gambling Commission Director of Enforcement and Intelligence, said: “This is a further example of us taking action to investigate and sanction alarming failures.

We expect this gambling business and all other licensees to review this case and look closely to see if they need to make further improvements to demonstrate active compliance.

“Where standards do not improve, tougher enforcement will follow.”

Social responsibility failures included:

  • There were no controls in place to prevent large levels of high velocity spend by new customers. One customer was allowed to lose £70,000 over a 10-hour period just a day after opening the account.
  • Setting safer gambling interaction triggers too high and when customers’ spend increased considerably, which can be an indicator of harm, no further safer gambling account review was conducted in a timely manner– one customer was first interacted with when they had deposited £20,700 and lost £10,200 but then the next interaction did not occur until four months later when the customer had deposited £323,715 and lost £69,371.

Anti-money laundering failures included:

  • Not fully taking into account the money laundering and terrorist financing (MLTF) risks connected to its business, in particular risks connected to country or geographic area, customers, transactions, and product and services.
  • Not having appropriate policies, procedures and controls in place to manage and mitigate the MLTF risks, including thresholds that were inadequate, having insufficient information on customers and no evidence of ongoing monitoring prior to initial financial triggers being reached.
  • Not ensuring that its policies, procedures and controls were implemented effectively, including not following guidance issued by the Commission and not taking into account any applicable learning or guidelines published by the Commission.
  • Failing to thoroughly implement the measures described in the Money Laundering Regulations, including failing to identify the MLTF risks to which the business was subject and failing to establish and maintain policies, procedures and controls to manage and mitigate the risks effectively. The operator also provided inadequate employee training, failed to scrutinise transactions to ensure that they were consistent with their knowledge of the customer and their risk profile, and failed to conduct sufficient anti-money laundering, customer due diligence and source of funds checks.
Related Topics:
Continue Reading
Advertisement

Compliance Updates

MGCB Targets 11 Illegal Online Casinos Operating Without Licenses

Published

14 hours ago

on

April 28, 2025

By

mgcb-targets-11-illegal-online-casinos-operating-without-licenses

 

The Michigan Gaming Control Board (MGCB) has issued cease-and-desist orders to 11 illegal online gambling operators found to be targeting Michigan residents without proper state authorization. These unlicensed casinos—some based offshore, others operating from undisclosed or domestic locations—pose serious risks to consumers by skirting Michigan’s regulated gaming laws.

The casinos named in the enforcement action include the following:

Club Player Casino

7 Bets Casino

NinBet Casino

Cherry Jackpot Casino

PitBet

SlotsNBets

Bookmaker.eu

Wild Vegas Casino

VIP Slots Casino

Prism Casino

ABC Islands Casino

“These sites are operating illegally and without proper oversight, putting Michigan players at risk. We’re committed to shutting down unlicensed gambling operations and protecting the public from deceptive practices, unfair play, and financial harm,” said Henry Williams, Executive Director of the Michigan Gaming Control Board.

The named operators have been found to accept wagers from Michigan residents via a range of payment methods—including credit cards, digital wallets, and cryptocurrencies. Players may be subjected to questionable practices, such as the withholding of winnings, unrealistic wagering requirements, and denial of withdrawals.

In addition to financial concerns, these illegal operators are not required to follow the same rigorous data protection standards that are mandated in Michigan’s regulated market. As a result, players’ personal and financial information may be highly vulnerable when shared with these unlicensed platforms, increasing the risk of data breaches, identity theft, and other cybercrimes.

The MGCB has formally notified all 11 operators to immediately stop offering gambling services to Michigan residents. They have been given 14 days to comply. Continued violations may result in further enforcement, including collaboration with the Michigan Attorney General’s Office to pursue legal action.

“This should serve as a strong warning to illegal operators: Michigan does not tolerate unauthorized gambling activity. We will continue our relentless pursuit of actively identifying and disrupting these operations,” Williams said.

“We want every patron in Michigan to have access to a fair and secure gambling experience. By eliminating illegal operators, we’re helping ensure the public can enjoy gaming without fear of fraud or abuse,” Williams added.

The post MGCB Targets 11 Illegal Online Casinos Operating Without Licenses appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Compliance Updates

Vlad-Cristian Soare Appointed as the New President of Romania’s Gambling Authority (ONJN)

Published

14 hours ago

on

April 28, 2025

By

vlad-cristian-soare-appointed-as-the-new-president-of-romania’s-gambling-authority-(onjn)
Reading Time: < 1 minute

 

Mr. Vlad-Cristian Soare has been appointed as the new President of the National Office for Gambling (ONJN), replacing Mr. Gheorghe Gabriel Gheorghe, who stepped down from the position at his own request.

A lawyer by profession, Mr. Vlad-Cristian Soare has significant experience in the gambling sector, having served as the General Director of the Romanian National Lottery from 2021 to 2022. He has also held the position of President of FEDBET – the Federation of Gambling Organizers – since November 2022. In addition, Mr. Soare is a university lecturer at the University of Bucharest.

Given his extensive background in the gambling industry, it is expected that Mr. Soare will make impactful and beneficial decisions in his new role as President of ONJN.

The post Vlad-Cristian Soare Appointed as the New President of Romania’s Gambling Authority (ONJN) appeared first on European Gaming Industry News.

Continue Reading

Anastasia Rimskaya

Aviatrix receives certifications in Brazil

Published

5 days ago

on

April 24, 2025

By

aviatrix-receives-certifications-in-brazil

The award-winning crash game Aviatrix has received certification for Brazil’s online gaming market, ensuring full compliance in the market.

Aviatrix has been granted full Federal Certification to offer its games via licensed operators in the country. Meanwhile, Aviatrix has also acquired a dedicated certification for the state of Paraná.

This means Brazilian players can now enjoy the most innovative crash game on the market –  one that has already gained a loyal following across Latin America.

Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “This is a huge milestone for Aviatrix. Brazil is one of the most exciting, newly-regulated markets in the world. There is massive demand for high-quality content, and that’s why we know Aviatrix is going to thrive. We’re looking forward to bringing the game to the country via some world-class partners. Get ready for takeoff.”

Aviatrix has been rapidly expanding in Latin America over recent months, including in Peru and Colombia.

The company was also named ‘Rising Star in Casino’ at last year’s SBC Awards Latinoamérica.

The post Aviatrix receives certifications in Brazil appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending