Wolverhampton based "Casino 36" has to pay £300k as a penalty to the UK gambling commission because of the anti-money laundering and responsibility failures.
As per the investigation reports, UKGC has declared that the Casino 36 were allowing 33 customers to gamble an essential amount of money without carrying out 'enhanced-due-diligence’ source-of-funds and source-of-wealth checks.
Moreover, there were a lot of social responsibility concerns that was underlined by the UKGC regarding the failures which occurred in November 2017 and October 2018. They failed in the engagement with the customers which shows sign of problem gambling behavior.
Casino management said that there has been a lot of things that they have learnt from these cases and in future, they will ensure to have a safer gambling.
Also, check the breakdown of the £300k settlement: they charged £152,259 in lieu of a financial penalty, paid £147,741 for the activities in question. In order to this, they have to pay in the UKGC investigation cost of £18,648.
Further the Casino 36 now sanctioned with the new license, including all the conditions like EDD on its top 250 customers. And the ones holding the Casino 36's personal management license (PML) requires to undertake an anti-money laundering training.
Richard Watson, The Commission Executive Director stated, "it's not acceptable at all. This stolen money could not flowed uncheck just because of the management failure. The management have to know the base of their customers.”