By Samantha Jones-
Online gaming operator Gamesys is facing a hefty £6 million fine as a result of a comprehensive investigation by the Gambling Commission, uncovering significant shortcomings in social responsibility and anti-money laundering practices.
The Gambling Commission’s inquiry revealed that Gamesys, overseeing 16 websites, including popular platforms like ballycasino.co.uk, doublebubblebingo.com, jackpotjoy.com, and megawayscasino.com, displayed glaring lapses in its commitment to social responsibility and money laundering prevention.
AD: Capeesh Restaurant
As part of the penalty, Gamesys is mandated to undergo a third-party audit to assess the effective implementation of its anti-money laundering and safer gambling policies, procedures, and controls.
Among the identified failures, Gamesys was found to have contacted a customer only after they had incurred losses nearing £10,000, showcasing a delayed and inadequate response to a gambling concern. Additionally, the company conducted just one “responsible gambling interaction” with a customer who suffered losses amounting to £19,709 over a five-month period.
AD: Oysterian Sea Food Restaurant And Bar
Disturbingly, some customers managed to evade anti-money laundering triggers, enabling them to spend substantial sums without proper checks.
Noteworthy instances included one customer depositing £14,585 within a 28-week period, another depositing £18,884 in slightly over six months, and a third depositing a staggering £34,280 in just five and a half months.
The fine and enforcement action underscore the critical importance of robust social responsibility measures and anti-money laundering protocols within the online gaming industry. The Gambling Commission’s intervention serves as a deterrent against lax practices that could potentially expose customers to harm or facilitate money laundering activities.
The mandated third-party audit is a strategic move to ensure Gamesys institutes necessary corrective measures and fortifies its commitment to responsible gambling and money laundering prevention.
The magnitude of the fine reflects the severity of the identified failures and emphasizes the regulatory imperative for online gaming operators to prioritize the welfare and safety of their customers.
This enforcement action against Gamesys aligns with ongoing efforts by regulatory authorities to uphold the integrity of the online gaming sector and protect consumers from potential risks associated with gambling-related harm and financial misconduct.
AD: Heritage And Restaurant Lounge Bar