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Gamesys sanctioned by UKGC for social responsibility failings

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Following an investigation by the UK Gambling Commission (UKGC), it was announced this morning that affiliate and online gambling operator Gamesys (Gibraltar) Limited will pay £1.2m for failing to prevent gambling harm and breaching money laundering regulations.

Gamesys currently oversees a number of gaming sites, including sports data site and affiliate Live Score as well as the newly-launched Virgin Bet.

Richard Watson, Gambling Commission Executive Director, commented: “It is vital that operators understand their customers – track their online gambling and step in quickly when they suspect someone is suffering from gambling harm.

“These key steps and processes ensure they meet both their anti-money laundering and social responsibility obligations for all customers.

“Gamesys’ approach resulted in a variety of failings and saw stolen money flowing through the business – with customers being put at risk of gambling related harm.”

The recent spate of regulatory actions underlines the need for affiliates to ensure that they are compliant with the regulations of each jurisdiction that they operate in, as well as ensuring that they are mindful of social responsibility practices.

The investigation carried out by the UKGC found that following a police investigation, three individuals had been found to have used stolen money within the operator’s transactions.

It was also revealed that the operator had failed to act upon player behaviours which could otherwise have indicated problem gambling habits. The investigation also found that the operator was in contravention of money laundering regulations, including not establishing customers’ source of funds.

As part of the settlement with the UKGC, Gamesys will return £460,472 of stolen money to victims and pay £690,000 as a payment in lieu of a financial penalty. This money will be spent accelerating delivery of the National Strategy to Reduce Gambling Harms.

The post Gamesys sanctioned by UKGC for social responsibility failings appeared first on AffiliateINSIDER.

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