Casumo Fined a Whopping £6 Million

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.

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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usbarbadosslim93
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26 March 2021 - 3:30pm
#1

This is why the UKGC is great. They hold even the big name sites accountable. Kudos.

ieadrianooo231
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26 March 2021 - 9:52pm
#2

Shocking Casumo have been upto anticts like this!
Glad it was addressed and sorted out

caWaroftheGods
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27 March 2021 - 3:19pm
#3

I always wondered how a casino would step in if it seen its players losing large sums of money in a short amount of time.

But 50 grand to somebody could be nothing really while to another 2000$ is there entire paycheck. Blowing the 2000 would hurt that person more financially than the well off 50 grand pocket change player, so how does a casino know when to step in?

nzcableway20878
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28 March 2021 - 12:30am
#4

Are they gamblers just having a bad hair day or Money Laundering persons .
Or both.
It may take Casumo a month or 2 to regain some profits after this fine.

auCL-Ed
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29 March 2021 - 2:01am
#5

It would appear that Casumo have not learned their lesson. They were fined almost £6m in 2018 and now fined again for basically the same thing. I am surprised that the UKGC is still threatening further fines or revoking their license seeing as they have past form.

WaroftheGods wrote:

I always wondered how a casino would step in if it seen its players losing large sums of money in a short amount of time.

But 50 grand to somebody could be nothing really while to another 2000$ is there entire paycheck. Blowing the 2000 would hurt that person more financially than the well off 50 grand pocket change player, so how does a casino know when to step in?

UK law says they have to perform a statement of wealth (SOW) check on players that are depositing and wagering large amounts, so they can establish which of those situations in your example applies. Or other situations like a person stealing money from their employer to fund their habit etc. This can mean that the player may have to show things like bank statements, pay slips, or proof of assets. It can be a big annoyance and intrusive to players, but it is intended to prevent situations like these.

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zaLambino
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29 March 2021 - 9:46am
#6

Wowsers that's very irresponsible of casumo and personally I thought they were one of the more responsible operators out there

auCL-Ed
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30 March 2021 - 12:05am
#7

We have updated our review of Casumo with a big fat red warning that details their fines for repeated violations of their obligations.

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usbarbadosslim93
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30 March 2021 - 5:27pm
#8

I think CL may be one of the only sites that'll post a warning about Casumo. This is why the site is the best for reviews. It calls balls and strikes rather than what could make them the most money.

CL-Ed

nzcableway20878
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30 March 2021 - 9:11pm
#9

WOW sign/display a statement of wealth (sow)
All the UK sports personal will have to admit they have plenty of spare pounds/Euro to gamble with.

lvblck
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3 April 2021 - 11:10am
#10

It really is quite shocking as it's not the first time Casumo gets a fine. And not just any fine, but a big one. They really need to make sure this doesn't happen again as their reputation in the last years is decreasing.

nzcableway20878
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3 April 2021 - 11:37am
#11

In my thinking they must of weighed up the odds of being thumped twice and decided know one will do anything twice lets make more money to recoup our loses.
It also confirms they must be raking in some serious funds/Euro care of their casino.

auCL-Ed
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6 April 2021 - 12:34am
#12

You know what, it's sad but you could be spot on there cableway. They might be seeing these fines as just a cost of doing business their way.

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