Aspire Global in UK Gambling Commission crosshairs over AML breaches
Malta-headquartered supplier slapped with £237,600 penalty over white-label failings
Aspire Global has been ordered to pay £237,600 by the UK Gambling Commission (UKGC) after the gambling watchdog found it had breached regulations concerning white-label partnerships.
The Malta-headquartered supplier was issued with the penalty for breaching anti-money laundering regulations due to being “unable to demonstrate” that it had carried out due diligence checks on six third-party businesses with which it had existing white-label partnerships.
The businesses concerned have not been named by the UK regulator.
Following the UKGC investigation, Aspire Global has been issued with a warning for breaching section 117 of the Gambling Act 2005 in two places.
The UKGC also attached additional conditions to the supplier’s UK licence, namely the implementation of a requirement to conduct risk-based due diligence on the third parties it transacts business with.
In addition, the UKGC has issued an ‘advice to conduct’ document in respect to a number of other areas that were identified during the review as not meeting regulatory standards.
Aspire Global is licensed by the UKGC for remote bingo, casino and real-event betting. It runs a total of 66 websites both on a white label and wholly-owned basis.
Anti-money laundering has featured highly on the UKGC’s enforcement agenda over the last year, with operators including Betfred, Smarkets, GG Poker, Spreadex and Entain among those feeling the wrath of the UK regulator in recent months.