Gibraltar regulator slaps £45K fine on online casino for AML failures
Gibraltar’s gambling regulator has fined an unnamed gaming operator £45,000 for failing to meet responsible gambling and anti-money laundering standards. The penalty follows repeated issues in handling high-risk customers and implementing required safeguards. While the operator’s name remains undisclosed, the regulator highlighted specific weaknesses in its compliance processes.
The investigation revealed that the operator struggled to apply internal controls effectively. One key failure involved not enforcing a net deposit limit for a customer, even after receiving income and wealth documentation. The regulator also found that the company’s approach to monitoring younger, high-risk 'online games' customers aged 18-24 was inadequate, despite some gradual improvements over time.
The £45,000 settlement serves as a reminder of the strict expectations placed on 'online casino' operators in Gibraltar. The regulator’s findings point to specific failures in responsible gambling and AML procedures, despite the operator’s broader compliance efforts. Moving forward, the company must demonstrate tangible improvements to avoid further penalties.
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