March 20, 2020

UK Gambling Commission suspends license and imposes fine due to AML failures

Recent anti-money laundering actions by the UK Gambling Commission include:

  • The March 17, 2020 suspension of operations of International Multi Media Entertainments Limited, based on the Commission’s concern about the company’s anti-money laundering and social responsibility practices. International Multi Media must shutter its remote casino and general betting operations immediately, pending a license review pursuant to s116 of the Gambling Act 2005.
  • The imposition, on March 12, 2020, of a £11.6 million fine on Beltway Limited, an on-line gambling business, for anti-money laundering and social responsibility failings in connection with the company’s interactions with seven high-spending customers.  The Gambling Commission’s investigation found that Beltway processed transactions involving £5.8 million that was, or could reasonably be suspected to be, the proceeds of crime.

In a statement, the Executive Director of the Gambling Commission said, “we are pushing the industry to make rapid progress on the areas that we consider will have the most significant impact to protect consumers… We have set tight deadlines for when we expect to see progress and if we do not see the right results then we will have no choice but to take further action.”

Information Notice (Multi Media) | Information Notice (Beltway)