Lottomart operator to pay £360,000 following social responsibility and AML failures
The operator accepted the failings and fully cooperated with the Gambling Commission's investigation on the matter.
Key points:
– Maple International Ventures Limited will have to pay £360,000 ($491,316)
– This comes after a Gambling Commission investigation found multiple failures from the operator
– The money will go towards socially responsible causes
Maple International Ventures Limited, the operator behind the Lottomart brand, faces regulatory action and a £360,000 penalty from the Gambling Commission.
The investigation found that Maple International failed its anti-money laundering, counter-terrorism financing (AML/CTF) and social responsibility obligations.
Businesses are required to continuously monitor their own risk assessments and ensure that they stay ahead of emerging products, technology and payment methods.
In Maple International’s case, the operator’s risk assessment did not cover organised crime gangs and mule accounts in enough detail, nor was it updated to reflect the latest risk assessment publications from the Commission.
In one case, a customer was able to evade detection by simply switching their surname and forename around.
As such, Maple International will pay a financial penalty of £360,000, which will go towards socially responsible causes.
Good to know: The socially responsible causes include GambleAware, Ygam, GamCare and various universities running gambling-related projects
The Commission also notes that the operator had an unblemished regulatory history before this incident, quickly put a plan into place to fix the issues, fully cooperated with the investigation and accepted the failings at an early stage in the investigation.
John Pierce, Commission Director of Enforcement, said: “The cornerstone of every licensed business must be the proper implementation of effective policies and procedures aimed at making gambling crime-free and safer.
“This operator is now being held to account for anti-money laundering and social responsibility failings uncovered during a compliance assessment.
“We would advise all operators to read the Maple International Ventures public statement and consider whether their own policies and procedures are both effective and are being successfully implemented.”
The Gambling Commission is currently in the process of updating its guidance on fines and penalties for operators who breach regulations.
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