The UK Gambling Commission announced yesterday that they have taken action against the iGaming operator Daub Alderney, after identifying social responsibility and anti money laundering failures within the business.
Daub Alderney who are owned by the Rank Group plc and number online casino brands Magical Vegas and Spin and Win as well as the online bingo site Kitty Bingo, have been issued with a £5.85m fine as a result of the findings identified by the UKGC. Additionally the operator has been issued with a formal warning from the UK regulator for the failures which occurred between January 2019 and March 2020.
The action taken by the UKGC and the seven figure fine that forms part of the penalty, is just the latest in a long list of penalties that the UK’s regulator has taken against its licensees over the past few years.
Helen Venn, the UKGC Executive Director, commenting on the action taken against Daub Alderney, said: “This case was the result of 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.”
However, Venn also pointed out most of the identified failures took place prior to the Rank Group plc taking over the business in October 2019.
Failures identified by the UKGC included:
- One customer being allowed to deposit £50,000 before the operator sought source of funds evidence.
- A second customer was allowed to deposit £41,500 in a month without supplying adequate source of funds evidence.
- Over an eight-month period a third customer was allowed to lose £53,000 but during that time the only source of funds evidence obtained by the operator was to establish that the customer lived in a house estimated to be worth £233k.