UK GC Regulatory Failures Penalty

Published on: Jan 10, 2025

On Jan. 9, UK GC said Greentube Alderney will pay £1mn for breaches.

  • UK GC said online gambling business Greentube Alderney Limited, trading as Admiral Casino, will pay £1mn after an investigation found social responsibility & AML failures.
  • Follows UK GC Dec, fined gambling firm £685,000 over AML failures, see #123008.
  • Summary
  • Operator runs admiralcasino.co.uk/will pay settlement to socially responsible causes.
  • Social responsibility failures included not: fully implementing own policy for ensuring customer limits based on regular income; implementing own processes on customer document validity; implementing controls to identify indicators of vulnerability/harm.
  • AML failures included: not always scrutinizing information quickly with avoidable delay in identification/potential escalation of money laundering or terrorist financing risks.
  • Not always following own policy on what it called risky occupations; not always fully investigating and escalating accounts showing apparent links to other accounts in a timely manner, which delayed investigation, escalation, mitigation of potential risks.
  • UK GC said it would continue to monitor, as although it had made significant improvements since its previous penalty, further regulatory breaches had been found.
Regulators
UK GC
Entity Types
CNSM; Corp; Gambling
Reference
PR, 1/9/2025; ESG
Functions
AML; Compliance; C-Suite; Legal; Operations; Registration/Licensing; Reporting; Settlement; Social; Suitability; Treasury
Countries
United Kingdom
Category
National Regulator
State
N/A
Products
Cards; Corporate; Payments
Rule Type
Enforcement
Regions
EMEA
Rule Date
Jan 9, 2025
Effective Date
Jan 9, 2025
Rule ID
239602
Linked to
N/A
Reg. Last Update
Jan 9, 2025
Report Section
AML & Enforcement