Daub Alderney, part of Stride Gaming Group, has been ordered to pay £7m ($9m) by the Gambling Commission for failing to prevent money laundering and failing to protect vulnerable customers.

The company will now have extra conditions placed on its license to provide gambling to customers in Great Britain.

On 12 January, the Commission gave Daub Alderney notice of a review into its operating license, with the case referred to the Commission’s Regulatory Panel for a decision in April.

The panel found Daub Alderney to be in breach of several license conditions relating to anti-money laundering and self-exclusion.

Investigations revealed the operator did not have appropriate risk assessment in place to prevent money laundering and failed to establish and maintain policies relating to the management and protection of its players.

In conclusion, the panel deemed the fine to match the severity of the offences, referencing the Commission's principles.

Richard Watson, Gambling Commission Executive Director, said: “This action is part of an ongoing investigation into the online casino sector.

“The operator’s standards did not match the protections required, and this fine reflects the seriousness of these lapses.”