{"id":4901,"date":"2018-11-29T09:24:05","date_gmt":"2018-11-29T09:24:05","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/online-gambling-firms-fined-in-crackdown\/"},"modified":"2018-11-29T09:24:05","modified_gmt":"2018-11-29T09:24:05","slug":"online-gambling-firms-fined-in-crackdown","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/online-gambling-firms-fined-in-crackdown\/","title":{"rendered":"Online gambling firms fined in crackdown"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Videoslots website\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/11911\/production\/_104535917_videoslots.vs.png\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Videoslots<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Three online casino companies have been fined and one has been prevented from operating in the UK following a crackdown by the industry regulator.<\/p>\n<p>The Gambling Commission has fined three firms almost \u00a314m for not having &#8220;effective safeguards&#8221; to prevent money laundering and harm to customers from gambling.<\/p>\n<p>Daub Alderney is to pay \u00a37.1m, Casumo \u00a35.85m and Videoslots \u00a31m.<\/p>\n<p>A fourth firm, CZ Holdings, surrendered its licence to operate in the UK.<\/p>\n<p>&#8220;I hope today&#8217;s announcement will make all online casino operators sit up and pay attention, as our investigations found that a large number of operators and their senior management were not meeting their obligations,&#8221; said Neil McArthur, the chief executive of the Gambling Commission.<\/p>\n<p>&#8220;We expect operators to know their customers and to ask the right questions to make sure they meet their anti-money laundering and social responsibility obligations.&#8221;<\/p>\n<ul class=\"story-body__unordered-list\">\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/sport\/football\/46290892\" class=\"story-body__link\">Sports TV betting review under way<\/a><\/li>\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46205812\" class=\"story-body__link\">Government backtracks on gaming machines<\/a><\/li>\n<\/ul>\n<p>After a review which started in February, the Commission found that Videoslots had been making initial inquiries into the source of customer funds, but failed to continue to make checks.<\/p>\n<p>In one case a Videoslots customer failed automated identity checks and instead provided a fraudulent driving licence, which was not detected. <\/p>\n<p>The customer registered multiple fraudulent credit cards, which were also not detected. Those cards were used to deposit and gamble with &#8220;large amounts&#8221;.  <\/p>\n<p>The customer had deposited \u00a317,405 by the time the company&#8217;s systems flagged the account. The Commission said those deposits were &#8220;suspected to be the proceeds of crime&#8221;.<\/p>\n<p>Videoslots accepted that it had weaknesses in its systems and had taken action to address the issues, the Commission said.<\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                 <span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>A review of Casumo&#8217;s business, which began in January, found that the company had failed to check customers properly and monitor their activities.<\/p>\n<p>Its investigation reviewed the accounts of three customers that showed potential signs of problem gambling, but did not trigger any action from Casumo.<\/p>\n<p>Since then the company has taken action to improve its procedures, the Commission said.<\/p>\n<p>Earlier this month, the Commission announced it was fining Daub Alderney \u00a37.1m.<\/p>\n<p>The company&#8217;s monitoring of customers was also found to be inadequate, but it has since tightened its procedures.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46382717\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Videoslots Three online casino companies have been fined and one has been prevented from operating in the UK following a crackdown by the industry regulator. The Gambling Commission has fined three firms almost \u00a314m for not having &#8220;effective safeguards&#8221; to prevent money laundering and harm to customers from gambling. Daub Alderney is to &hellip; <\/p>\n","protected":false},"author":0,"featured_media":4902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4901"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/4902"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}