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Betway to pay £11.6m for inadequate AML and social responsibility controls

12th March 2020 8:40 am GMT
Betway

Inadequate management oversight and lax social responsibility controls have landed gambling operator Betway with an £11.6m bill from the UK Gambling Commission.

The penalty package was announced Thursday and concerns a number of social responsibility and anti-money laundering failures at the operator, which in one case led to a customer depositing £8m over four years without being asked to provide proof of source of funds.

In another case a customer lost £187,000 with the operator over a two-day period without any intervention.

The UKGC [...]

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