International edition
December 04, 2020

UKGC investigation found stolen money flowed through Platinum Gaming's platform

Unibet UK operator to pay over USD 2 M for social responsibility and AML failures

Unibet UK operator to pay over USD 2 M for social responsibility and AML failures
"There were weaknesses in Platinum Gaming’s systems and, as a consequence, more than half a million pounds of stolen money flowed through the business," said Richard Watson, UKGC's Executive Director.
United Kingdom | 06/13/2019

It was revealed the customer’s deposits were so high and losses so significant that Platinum Gaming should have considered refusing or barring service to the customer. Gambling Commission investigations also revealed the operator breached anti-money laundering regulations, including a failure to make adequate inquiries about the source of the gambled funds.

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UK online gambling operator will pay £1.6 million (over USD 2 M) for failing to identify gambling harm and prevent money laundering. The UK Gambling Commission launched an investigation following reports that a convicted fraudster had spent £629,420 of stolen money with Platinum Gaming Ltd (parented by Kindred), which is licensed to operate Unibet.co.uk and uk.bingo.com in the country.

During Commission inquiries, it was revealed the customer’s deposits were so high and losses so significant Platinum Gaming should have considered refusing or barring service to the customer, the UKGC explained in a statement. Instead, the operator continued to allow the customer to gamble.

Investigations also revealed the operator breached anti-money laundering regulations, including a failure to make adequate inquiries about the source of the funds the customer used to gamble.

As part of a settlement with the Commission, Platinum Gaming returned £629,420 to the fraudster’s victims and will pay £990,200 (USD 1.25 M) in lieu of a financial penalty. This money will be spent accelerating delivery of the National Strategy to Reduce Gambling Harms.

Richard Watson, Gambling Commission Executive Director, said: “There were weaknesses in Platinum Gaming’s systems and, as a consequence, more than half a million pounds of stolen money flowed through the business. This is not acceptable and I would urge all operators to carefully read this case and learn lessons so they don’t make the same mistakes.”

“This is yet another example of us taking firm action against online operators who fail to protect consumers or implement effective safeguards against money laundering. We must see the industry stepping up and providing consumers in Great Britain with the safest and fairest gambling market in the world. Where we continue to see failings, we will continue to take action,” Watson added.

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