Regulation

Betfred to pay £322k for AML failings

UKGC investigation finds bookmaker failed in its source of funds checks on customer who lost £140,000 in stolen money

Betfred has been forced to pay £322,000 by the UK Gambling Commission after an investigation found the bookmaker failed to carry out adequate source of funds checks on a customer who lost £140,000 in stolen money. The investigation found a customer who had been convicted of a £2m fraud had deposited £210,000 in November 2017…

AML | Betfred | Gambling Commission | Petfre | Regulation | UK

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