Bet365 has been ordered to pay £582,120 due to shortcomings in anti-money laundering measures and social responsibility within its online operations.
Hillside (UK Gaming) ENC, which oversees licensing for Bet365’s bingo and casino offerings, will contribute £343,035, while Hillside (UK Sports) ENC, responsible for betting licenses, will provide £239,085.
All £582,120 of the settlement will be allocated to socially responsible initiatives as part of an agreement reached with the UK Gambling Commission.
These deficiencies were unearthed during a regulatory evaluation by the Commission in March 2022.
Regarding social responsibility lapses:
- Customer interactions lacked customization to address individual risk levels or potential harm, rendering them ineffective.
- The Early Risk Detection System failed to adequately assess the impact of interactions on customer behavior and subsequent action.
- Evaluation methods were insufficient to gauge if customers comprehended the provided information or advice.
Anti-money laundering failures encompassed:
- Ineffective customer due diligence and know-your-customer triggers in mitigating money laundering risks.
- Neglecting financial sanctions checks on new customers before initial deposits.
- Dependence on customers’ self-verification without independent verification checks for know-your-customer information.
- Inadequate detail in procedural documents regarding customer risk profiling categorizations.
Kay Roberts, Executive Director of Operations at the Gambling Commission, remarked:
While the policy and procedural shortcomings may not have been as egregious as those seen in other gambling enterprises in recent times, they remain failures nonetheless. We demand stringent standards from operators to uphold the safety, fairness, and integrity of gambling activities, and we will consistently intervene to rectify any shortcomings. It is imperative for this operator to recognize that a recurrence of these failures will lead to increasingly stringent regulatory measures.
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