November 12, 2020

UK Gambling Commission fines online gambling business for AML failures

On November 11, 2020, the UK Gambling Commission fined Boylesport Enterprise £2.8 million ($3.3 million) and imposed tougher licensing conditions, after an investigation revealed that the operator breached the Commission’s money laundering rules on its and websites.  The Commission also issued an official warning after investigators determined that Boylesport had inadequate money laundering policies, procedures and controls that the operator could not implement effectively.  Investigators also revealed that Boylesport failed to comply with components of the Money Laundering Regulations.  

As a result of these breaches, Boylesport must appoint a qualified Money Laundering Reporting Officer that has a Personal Management License (PML), who must receive annual anti-money laundering refresher training, that will be monitored by the Commission.  The operator must also ensure that all  of its PML holders receive annual AML refresher training, and must continually assess its AML procedures to ensure that they are effective and properly implemented.  

Gambling Commission News Release | Gambling Commission Regulatory Decisions