Gambling Commission sanction Gamesys for Anti Money Laundering Failings

By Simon Wright, Last updated Jul 1, 2023

Gamesys who own Jackpotjoy and Virgin Games, have been hit with a seven figure sanction by the Gambling Commission, after an investigation showed that they had breached money laundering regulations.

The investigation by the Gambling Commission took place after police alerted them to the fact that three individuals had spent stolen monies at properties owned by Gibraltar based Gamesys, between 2014 and 2016.

As a result of the investigation undertaken by the Gambling Commission, Gamesys have been ordered to return £460,472 to the victims whose monies were stolen. In addition Gamesys have been instructed to make a voluntary contribution of £690,000. This amount will go towards setting up the National Strategy to Reduce Gambling Harms.

Commenting on the investigation and the subsequent financial penalties imposed on Gamesys, CEO of the Gambling Commission, Richard Watson said: “It is vital that operators understand their customers – track their online gambling and step in quickly when they suspect someone is suffering from gambling harm.”

“These key steps and processes ensure they meet both their anti-money laundering and social responsibility obligations for all customers.”

“Gamesys’ approach resulted in a variety of failings and saw stolen money flowing through the business – with customers being put at risk of gambling related harm.”

In conclusion the Gambling Commission stated: “Our investigation found, and Gamesys accepts, that there were historical weaknesses in its systems relating to how it managed its customers for anti-money laundering and social responsibility purposes.”

Simon Wright

Simon Wright has been both a player and an observer of the online casino industry for over 15 years. His knowledge of the online casino industry – to include sports is massive. Not many folks have the experience or his knowledge about online gambling. His adoration of football is also noted. He has painted his house blue (Chelsea) and annoys his neighbors with local football songs on game days.

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