A probe by the UK Gambling Commission found that the provider allowed £5.8m to flow through its business which was, or could reasonably be suspected to be, proceeds of crime.
“The actions of the casino suggest there was little regard for the welfare of its customers or the impact on those around them,” said Richard Watson, executive director at the Gambling Commission.
The case is the largest penalty package against a gambling firm ever in the UK and comes as regulators ramp up pressure on the industry to do more to protect customers.
Other large fines recently meted out by the Gambling Commission include £7.1m for Daub Alderbey in 2018 and Ladbrokes Coral Group having to pay £5.9m in 2019.
William Hill also faced a penalty package of at least £6.2m in 2018 for breaching social responsibility and money laundering rules.
InScope can help you and your firm avoid AML related infractions and potential fines by applying your internal AML procedures rigorously across your entire client base, running sanctions and other AML checks on a daily basis, and keeping you on top of KYC document expiry, among other things.