This story was published more than 4 years ago.
UK betting group Gala Coral has been handed a hefty fine of nearly £880,000 after they took a large sum of money from a VIP player who was stealing the funds in order to play.
The large fine was handed down by the UK Gambling Commission, as the regulator slammed Gala Coral for failing to do its due diligence in preventing both theft and problem gambling by failing to inquire as to the source of wealth of the customer. The VIP player was stealing funds from his family to continue playing, and Gala Coral will pay the man and his family £846,664 as restitution as well as £30,000 to the Commission to cover the cost of the investigation.
In its ruling the Commission wrote: "Gala Coral Group failed to conduct adequate inquires about the source of funds the customer used to gamble in store and online, and placed over-reliance on the fact that the relevant payments were all made through one UK clearing bank account. There were indicators in the customer's online and in-store play which could have been used to identify him as problem gambler."
The Commission did note that Gala Coral said that their group had serious shortcomings when it comes to fighting problem gambling and money laundering, and requested the chance to offer the fine, and thus will not face a review of its UK gaming license.
No details on whether the player faced legal discipline was available as of press time.
|Gala Casino||Gibraltar, U.K.|