BoyleSports fined £2.8m by Gambling Commission

Sports betting operator BoyleSports has been fined £2.8m ($3.7m) by the Gambling Commission for a series of anti-money laundering (AML) failures.

boyle sports

An investigation into the Boylesports.com and Boylecasino.com websites, found the operator’s AML policies were unsuitable and could not be implanted effectively.

As a result, the Gambling Commission has imposed a number of stricter licensing conditions on BoyleSports.

The operator must now appoint a qualified Money Laundering Reporting Officer to ensure its AML practices are efficient.  All senior management and other staff must also undertake AML training.

In addition to the tougher license conditions, BoyleSports is subject o a fine of £2.8m as part of its official warning.

Commenting on the decision, Richard Watson, executive director of the Gambling Commission, said: “It is vital that all gambling businesses have effective anti-money laundering policies and procedures firmly in place and as part of our ongoing drive to raise standards we will continue to take tough action against operators who do not.”

This is not the first disciplinary action taken by the Commission this month. The Gambling Commission also revoked the license of Silverbond Enterprises, owner of the Park Lane Casino in London, due to a change in control within the company.

The regulatory body said it would not have granted the operator its license had the new controller been in charge when its application was made.

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