Skill On Net Limited, a popular online gambling company, has been fined over £300k by the UK Gambling Commission for breaching social responsibility and anti-money laundering regulations. The company, which operates several online casinos including PlayOJO and AHTI Games, was found to have failed in its duty to protect vulnerable customers and prevent money laundering.
The UK Gambling Commission is responsible for regulating the gambling industry in the UK and ensuring that operators comply with strict regulations. In this case, the commission found that Skill On Net Limited had failed to implement adequate measures to prevent problem gambling and protect vulnerable customers. The company was also found to have failed to carry out proper checks on customers to prevent money laundering.
The commission’s investigation found that Skill On Net Limited had allowed a customer to deposit over £1.3 million in just three months, despite the customer showing clear signs of problem gambling. The company also failed to carry out proper checks on the source of the customer’s funds, which could have been used for money laundering.
In addition to the fine, Skill On Net Limited has been ordered to implement a number of changes to its operations to ensure compliance with social responsibility and anti-money laundering regulations. These changes include improving its customer due diligence processes, implementing more effective measures to prevent problem gambling, and providing regular training to staff on these issues.
The UK Gambling Commission has made it clear that it takes breaches of its regulations very seriously and will take action against operators who fail to comply. This latest fine serves as a warning to other online gambling companies that they must take their responsibilities seriously and ensure that they have adequate measures in place to protect their customers and prevent money laundering.
In conclusion, Skill On Net Limited’s fine by the UK Gambling Commission highlights the importance of social responsibility and anti-money laundering regulations in the online gambling industry. It is essential that operators take their responsibilities seriously and implement effective measures to protect their customers and prevent money laundering. The commission’s actions serve as a warning to other operators that they must comply with these regulations or face similar consequences.
