Betfred will pay a regulatory settlement of more than £800,000 after the UK Gambling Commission (UKGC) discovered deficiencies in the operator’s anti-money laundering and social responsibility policies.

The settlement follows an investigation by the regulator, launched in response to a court case in which one of the company's VIP customers was jailed for over three years. Accountant Matthew Stevens was sentenced to three years and four months in jail for stealing over £850,000 from his employer to fund a gambling habit.

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