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.
