bet365 agrees regulatory settlement for AML and social responsibility failings

bet365 has agreed a regulatory settlement of over half a million pounds with Britain’s Gambling Commission.

Hillside (UK Gaming) ENC, holder of bet365’s online bingo and casino licences, will pay £343,035 as part of the settlement, while Hillside (UK Sports) ENC will pay £239,085 for failings under the company’s online sports betting licence.

The social responsibility and anti-money laundering failures were identified in March 2022 during a compliance assessment by the Gambling Commission.

The assessment found that bet365’s interactions with customers were not meaningful as they were frequently not tailored to the specific customer journey or spectrum of harm. 

The assessment also found that bet365’s Early Risk Detection System was not demonstrably effective in understanding the impact of individual interactions on a customer’s behaviour and whether further action was required, while its approach to evaluation meant that it was unable to effectively ascertain whether a customer had read and understood the information or advice provided within its interactions.

In regard to the company’s anti-money laundering (AML) policies and procedures, the Commission found enhanced customer due diligence and know your customer triggers that were ineffective in managing money laundering risk, as well as failings in financial sanctions checks on new customers prior to first deposit and independent verification checks on customers.

“The policy and procedural failings may not have been as severe as those at other gambling businesses in recent years but they were failings nonetheless,” said Kay Roberts, executive director of operations at the Gambling Commission. “We expect high standards from operators in terms of keeping gambling safe, fair and crime-free, and will always take action to correct any failings. This operator is very aware that a repeat of these failings will result is escalating regulatory action.”

All £582,120 of the penalty will be directed towards socially responsible causes as part of the regulatory settlement, with the Gambling Commission noting bet365’s timely co-operation with the investigation and the extent of steps taken to remedy the breach.