UK Gambling Commission Hits Entain With Record Fine For Serious Failings
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Entain has been fined £17 million by the UK Gambling Commission. The investigation uncovered social responsibility and anti-money laundering failures at Entain's online and land-based businesses. Entains must pay £14 million for failings at its online businesses run through LC International. It also fined a further £3 million (€3.5 million) for the land based business.
UK Gambling Commission Hits Entain With Record Fine For Serious Failings. The social responsibility failures discovered include limited interactions with potential problem gamblers and allowing restricted customers to open multiple accounts with the company's other brands.
One gambler had only one chat interaction despite depositing £230,845 (€274,564) over an 18-month period. One customer was banned on Coral for failing to supply source of funds details. Another customer wagered £173,285 ( €206,105) and lost £27,753 ($33,009) in a year.
UK Gambling Commission Hits Entain With Record Fine For Serious Failings. Anti-money laundering failures discovered include allowing large online deposits without adequate checks. One customer was allowed to deposit £524,501 in less than a year before the account was closed. All monies collected from the fines will go directly towards socially responsible programs.
Failing to conduct an adequate risk assessment of online business being used for money laundering and terrorist financing. Allowing large online deposits without adequate checks. One customer deposited £742,000 in 14 months and £186,00 in 6 months from a customer living in social housing.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.
This is the second time the operator has fallen foul of rules to make gambling safer and crime free. The investigation revealed serious failures that have resulted in the largest enforcement outcome to date.
