The Gambling Commission has fined LeoVegas £1.2m ($1.4m) after it found the gambling operator to be guilty of social responsibility and anti-money laundering failures in the UK.
LeoVegas also will receive an official warning, and be subject to audit to verify that the operator properly administers social responsibility protocols and anti-money laundering protocols.
Gambling Commission Director of Enforcement and Intelligence, Leanne Oxley, commented on the punitive action: “We identified this through focused compliance activity and we will continue to take action against other operators if they do not learn the lessons our enforcement work is providing.
“This case is a further example of operators failing to protect customers and failing to be alive to money laundering risks within their business.”
LeoVegas’ social responsibility failings were noted. Customers were required to cool off for 45 minutes after six hours, without explanation as to how that was possible.
The Gambling Commission also listed several anti-money launder violations. These included financial triggers that are unrealistic and too high to manage terrorist financing risk and money laundering; ineffective threshold triggers; inadequate information on how much customer can spend on the basis of their wealth and income as well as poor guidelines.
A final point was that inappropriate controls allowed significant levels of gambling spend to take place within a short space of time without knowing anything about customers’ financial situations.
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