Published
Legal & Regulatory

UK Gambling Commission Fines 32Red £2 million

The UK Gambling Commission has hit online gambling firm 32Red with a £2 million fine for failing to protect a consumer and for money laundering failures.

32Red2

The fine involved a customer who was allowed to deposit £758,000 on the site between November 2014 and April 2017 without money laundering or social responsibility checks.

Despite the large amount of money that entered the customer’s account, the firm failed to spot 22 signs of problem gambling, and in doing violated anti-money laundering and social responsibility regulations, the Commission said on Wednesday.

Instead of checking if there were clear sign of problem gambling in the spending patterns of the individual, 32Red offered deposit bonuses designed to encourage gamblers to spend more.

“Operators must take action when they spot signs of problem gambling and should be carefully reviewing all the customers they are having a high level of contact with," said Gambling Commission executive director Richard Watson.

“Protecting consumers from gambling-related harm is a priority for us and where we see operators failing in their responsibility to keep their customers safe we will take tough action,” 

Kindred Group Plc – the Swedish online gaming company that snapped up 32Red in £175.6 million deal last year –said that they accept the penalty charge and “recognises the raised standards required by the GBGC”.

The penalty package consists of a £709,046 divestment of the financial gain and a £1.3 million payment in lieu of a financial penalty imposed for the licence breach.

 

Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...