UK gambling giant Entain, which operates a number of popular brands including Ladbrokes and Coral has agreed to pay a record fine of £17 million after the UK Gambling Commission (UKGC) found that the company had committed “completely unacceptable” failures in its anti-money laundering and safer gambling obligations.
Entain Breached AML, Safer Gambling Rules
The regulator said Entain did not do enough to protect at-risk customers and allowed players to gamble massive sums without carrying out the necessary affordability and money laundering checks.
One player was allowed to gamble for extended periods, spending £230,000 over 18 months. The operator only reached out to the player once, breaching its customer interaction duties.
In another instance, Entain allowed a customer living in social housing to deposit £186,000 in just six months without adequate checks. There were also instances where players who had been blocked from a site operated by Entain were allowed to create accounts with other sites owned by the company. Some online customers were also able to deposit huge amounts with the operator failing to conduct suitable checks on the source of the funds.
Entain Could Lose Licence
The £17 million fine is the biggest penalty handed down to a UK gambling operator. It was also the second time that Entain has been fined for breaking the rules. UKGC Chief Executive Andrew Rhodes warned that further serious violations could result in the revocation of Entain’s licence.