This story was published more than 1 year ago.
This week the UK Gambling Commission unveiled that they've come to a settlement with Platinum Gaming and will collect a huge £1.6 million sum due to failures in terms of anti-money laundering procedures and social responsibility.
The settlement came after an investigation by the UKGC into reports that Platinum let a customer use stolen money to spend £629,420 on their Unibet.co.uk and uk.bingo.com brands. The investigation found that the amounts deposited and lost on the sites were so large that Platinum should have flagged the customer and possibly barred him from betting. Furthermore, the company didn't comply with money laundering regulations in the case by not looking into the source of the funds used to wager.
The fine consists of £629,420 in restitution to the gambler's victims, and will have a further £990,200 set out. Platinum will get to keep their UK license and facilitate bets to customers in the country.
Speaking about the case UKGC Executive Director Richard Watson noted: "There were weaknesses in Platinum Gaming's systems and as a consequence, more than half a million pounds of stolen money flowed through the business. This is not acceptable and I would urge all operators to carefully read this case and learn lessons so they don't make the same mistakes.
"This is yet another example of us taking firm action against online operators who fail to protect consumers or implement effective safeguards against money laundering. We must see the industry stepping up and providing consumers in Great Britain with the safest and fairest gambling market in the world. Where we continue to see failings, we will continue to take action."