Online casino operator Casumo has again been fined a massive £6 million by the UK Gambling Commission for social responsibility failings as well as failing to adhere to anti-money laundering regulations.
The operator will also receive an official warning, with the threat that continued failings could result in additional fines or license revocation. The company's failure to implement social responsibility activities saw one customer losing £1.1 million over three years without being looked at for responsible gaming intervention, another losing £65,000 in a month for the same reason, and a third losing £76,000 over the course of seven months.
This failure was a repeated pattern, which saw a gambler lose £89,000 in five hours and a second losing £59,000 in 90 minutes.
Casumo was also found to have not conducted the Source of Funds (SoF) requirements as dictated by UK law. This allows for the possibility of money laundering, and is a major no-no within the country.
Commenting on the fine UKGC Executive Director Richard Watson said, "This case was brought about through planned compliance activity and every operator out there should be aware that we will continue to take firm action against those who fail to raise standards."
This the second massive fine that the UKGC has handed out to Casumo in recent times. The casino was fined £5.8 million in 2018 after the UKGC identified operational failures in meeting responsible gambling and anti money laundering regulations.
|Casumo||Denmark, Malta, Sweden|