{"id":13680,"date":"2024-04-05T11:20:59","date_gmt":"2024-04-05T08:20:59","guid":{"rendered":"https:\/\/igamingafrika.com\/?p=13680"},"modified":"2024-04-05T11:20:59","modified_gmt":"2024-04-05T08:20:59","slug":"bet365-uk-to-pay-582120-for-regulatory-failures","status":"publish","type":"post","link":"https:\/\/igamingeuropa.com\/index.php\/2024\/04\/05\/bet365-uk-to-pay-582120-for-regulatory-failures\/","title":{"rendered":"bet365 UK to pay \u00a3582,120 for regulatory failures!"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/www.linkedin.com\/company\/bet365\/\" target=\"_blank\" rel=\"noreferrer noopener\">bet365<\/a> is to pay \u00a3582,120 for anti-money laundering and social responsibility failures at its online business.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hillside (U.K. Gaming) ENC, which holds a license for Bet365\u2019s bingo and casino products, will pay \u00a3343,035 and Hillside (U.K. Sports) ENC, which holds a license to offer betting, will pay \u00a3239,085.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All \u00a3582,120 will be directed towards socially responsible causes1 as part of a regulatory settlement with the U.K. Gambling Commission.The failings were discovered during a Commission compliance assessment in March 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read Also: <\/strong><a href=\"https:\/\/igamingafrika.com\/affilka-by-softswiss-partners-with-10bet\/\" target=\"_blank\" rel=\"noreferrer noopener\">Affilka by SOFTSWISS Partners with 10bet!<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Social responsibility failures that have led to this punishment included; The company failed in its social responsibility by not tailoring interactions with customers to their specific needs, not effectively detecting risks early on, and not ensuring customers understood information given to them. In terms of anti-money laundering, the company had ineffective triggers for customer due diligence, did not conduct financial sanctions checks on new customers, relied too heavily on self-verification of customer information, and lacked detail in its risk profiling procedures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Kay Roberts, Executive Director of Operations at UKGC, said:<\/strong> <em>\u201cThe policy and procedural failings may not have been as severe as those at other gambling businesses in recent years but they were failings nonetheless. We expect high standards from operators in terms of keeping gambling safe, fair and crime-free, and will always take action to correct any failings. This operator is very aware that a repeat of these failings will result is escalating regulatory action.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>bet365 is to pay \u00a3582,120 for anti-money laundering and social responsibility failures at its online business. Hillside (U.K. Gaming) ENC, which holds a license for Bet365\u2019s bingo and casino products, will pay \u00a3343,035 and Hillside (U.K. Sports) ENC, which holds a license to offer betting, will pay \u00a3239,085. All \u00a3582,120 will be directed towards socially &hellip;<\/p>\n","protected":false},"author":3,"featured_media":13686,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,14],"tags":[115,91,144],"class_list":["post-13680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-gambling-news","category-press-release","tag-bet365","tag-sports-betting","tag-uk"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>bet365 UK to pay \u00a3582,120 for regulatory failures!<\/title>\n<meta name=\"description\" content=\"bet365 is to pay \u00a3582,120 for anti-money laundering and social responsibility failures at its online business.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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