Gibraltar-based online gaming operator Petfre, owner of the Betfred brand, has become the latest operator to be fined by the UK Gambling Commission for historical anti-money laundering failures.

Petfre has been ordered to pay a penalty package of £322,000, comprised of a £182,000 payment in lieu of a financial penalty, £15,168 in Gambling Commission investigation costs, and divestment of £140,000 in gross gambling yield from a customer who gambled with stolen funds.

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