The UK Gambling Commission (UKGC) has levied a £6 million fine on Gamesys after uncovering significant failings in the company’s social responsibility and anti-money laundering (AML) practices. The regulatory body discovered these issues during a compliance assessment in May 2022, with the failings occurring between November 2021 and July 2022. Gamesys, which operates 16 gambling platforms in the UK, including well-known brands like Bally Casino, Double Bubble Bingo, and Jackpotjoy, has been found to have several inadequacies in its operations.
Among the social responsibility issues identified, Gamesys was found to have failed to consistently identify users who were at risk of gambling-related harm, neglected to communicate with at-risk individuals, and did not adequately record details about interactions and rationales behind certain decisions. In one particularly concerning case, the company only reached out to a customer after they had lost nearly £10,000 while also promoting certain promotions and games during the subsequent interaction.
On the AML front, it was found that some customers were able to circumvent the company’s thresholds and gamble significant sums without facing necessary checks. In one instance, a player managed to add £34,280 to their account in less than six months without proper oversight. Additionally, Gamesys’ due diligence was deemed inadequate, as the company relied too heavily on verbal assurances from its customers.
These failings have resulted in a substantial fine for Gamesys, demonstrating the UKGC’s commitment to enforcing regulations and ensuring that gambling operators maintain high standards of social responsibility and AML compliance. This development serves as a reminder to all companies in the gambling industry to prioritize the well-being of their customers and adhere to stringent regulatory requirements. The post Gamesys Hit With £6m Fine by UK Gambling Commission appeared first on Vegas Slots Online News.