Wednesday, 8 Feb 2023

Gambling firm fined £6,100,000 for money laundering failings

A gambling company was fined £6.1 million for social responsibility and money laundering failings.

The Gambling Commission assessed In Touch Games – which operates 11 websites including bonusboss.co.uk, cashmo.co.uk and slotfactory.com – in March last year.

It is the third time the firm, based in Birmingham, has faced regulatory action.

It paid a £2.2 million settlement in 2019 and received another £3.4 million fine and warning for further failures two years later in 2021.

Kay Roberts, executive director of operations at the Gambling Commission, said: ‘Considering this operator’s history of failings we expected to see significant improvement when we carried out our planned compliance assessment.

‘Disappointingly, although many improvements had been made, there was still more to do.

‘This £6.1 million fine shows that we will take escalating enforcement action where failures are repeated and all licensees should be acutely aware of this.’

The company’s failures concerning anti-money laundering failures included not properly considering or implementing the regulator’s money laundering and terrorist financing risk assessment or guidance.

In Touch Games also did not have appropriate policies, procedures and controls in place.

The firm’s social responsibility failures included not interacting with a customer until seven weeks after they were flagged for erratic and extended play.

It further accepted a customer’s claim they earned £6,000 a month without verification, until they were flagged for gambling during unsociable hours.

Metro.co.uk has contacted In Touch Games for comment.

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