UKGC Fines The Park Lane Club £1.8 Million

This week the UK Gambling Commission has fined The Park Lane Club's owner Silverbond Enterprises for a hefty £1.8 million total due to failures related to social responsibility and anti-money laundering measures.

The issues for the operator began in 2016 when there were reports that the casino failed to live up to the regulations in place regarding fighting money laundering. That initial investigation gave additional licensing requirements for Silverbond, but those weren't adhered to, and there was a further investigation, as it appeared that the casino's top customers weren't having due diligence checks conducted.

This new investigation resulted in a £1.8 million fine, an official warning, and additional measures. The company will be required to undergo additional training to get back on track. Continued violations can result in the group facing more fines and potential license revocation in the future.

We'll let readers know if there's any update in the future.

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bgsharpe
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Location: Sofia, Bulgaria
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27 September 2019 - 7:54pm
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That's one of the heftiest fines I've had ever heard of but I guess it's fully deserved as well...looks like the casino have violated the anti-money laundering rules for years..

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