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bet365 Reaches Settlement with UKGC over AML and Social Responsibility Failings

bet365 Reaches Settlement with UKGC over AML and Social Responsibility Failings

Author:

Mike Bennett

Published:

April 9, 2024

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Fine Split between Two Entities

Hillside (UK Gaming) ENC, which is the license holder for bingo and casino products of bet365 will pay a fine of £343,035 and the remaining money, £239,085, will be paid by Hillside (UK Sports) ENC, which holds the license to provide betting services.

The Executive Director of Operations at the UKGC, Kay Roberts, highlighted that the failings were not as severe as those found at other gambling operators in recent times. However, she emphasised that they were still in breach of the standards expected by the regulator.

“The policy and procedural failings may not have been as severe as those at other gambling businesses in recent years but they were failings nonetheless. We expect high standards from operators in terms of keeping gambling safe, fair and crime-free, and will always take action to correct any failings. This operator is very aware that a repeat of these failings will result in escalating regulatory action.”

Failings in Customer Interactions and Early Risk Detection

One of the social responsibility failures related to how bet365 interacts with players. It was found that often, they were not tailored to the specific customer journey or type of harm and therefore, it was decided that they were “not meaningful”.

Furthermore, it was found that the Early Risk Detection System was “not demonstrably effective in understanding the impact of individual interactions on a customer’s behaviour and whether further action was required”.

The final social responsibility failure related to bet365’s approach to evaluation. It was found that the company was unable to effectively determine if a player had read and understood the information or advice contained within interactions.

Failures in Anti-money Laundering Procedures

In its statement, the UKGC identified four areas of failure relating to anti-money laundering. bet365 was found to:

Have enhanced customer due diligence and know your customer triggers that failed to manage the risk of money laundering.
Fail to run financial sanctions checks on new customers before their first deposits.
Fail to conduct verification checks and over rely on customers’ annual self-verification of know your customer information, such as identification documents.
Fail to provide adequate detail in its procedure document defining who would be considered “at risk” and “not at risk” for customer risk profiling.

Both Hillside (UK Gaming) ENC and Hillside (UK Sports) ENC published public responses to the UKGC’s assessment in which they acknowledged the failings. Consequently, bet365 hefty fine will be covered. Had the UKGC issued a fine, then the money would go to HM Treasury; however, as a settlement was reached, the funds will go towards socially responsible causes.

An Excellent Online Bingo Product Despite

While bet365 was found to have failed in its AML and social responsibility obligations, there was no hint that its online bingo games are not fair and as noted, the Executive Director of Operations at the UKGC described the failings as less “severe” than those of other gambling operators.

This means that players at bet365’s online bingo site can still enjoy its range of 90-ball, 75-ball, and exclusive bingo rooms, as well as the collection of Slingo games and slots on offer. The site boasts more than 80 million customers from more than 150 countries who are drawn to its large jackpots, frequent promotions, and the all-round high-quality experience it provides.