TGP Europe hit with £316k fine over white-label failings 

The UK Gambling Commission (UKGC) announced today, 5 April, that TGP Europe Limited has been handed a £316,250 penalty for shortcomings around social responsibility and anti-money laundering (AML).

The Isle of Man-headquartered company, which runs 19 websites including the likes of 12bet.uk, Stake.uk.com and Fun88.co.uk, was also given an official warning and conditions applied to its licence.

In its ruling, the regulator said TGP Europe allowed customers to continue to gamble without intervention after they hit “multiple safer gambling alerts” and that the firm relied on automated rather than human interaction when players hit the threshold to flag an alert.

TGP Europe also didn’t assess the effectiveness of these interactions or whether contacting the customer by telephone was required.

When it came to AML, the UKGC found the company didn’t have a money launching and terrorist financing risk assessment in place which addressed risks, such as players supplying false or stolen ID and risks connected to complex or unusual transactions.

TGP Europe also didn’t adequately consider and mitigate money laundering risks posed by its B2B relationships.

Finally, the firm had ineffective policies and procedures in relation to due diligence undertaken prior to signing white-label agreements.

The UKGC said additional licence conditions setting out the action the licensee must take to ensure thorough due diligence checks are conducted have now been added to TGP Europe’s licence.

Meanwhile, the regulator reiterated in its findings that all operators entering into white-label partnerships are reminded of their obligations when it comes to money laundering and terrorist financing.

TGP Europe’s penalty comes just over a week after 888-owned William Hill paid a record regulatory settlement of £19.2m to the UKGC for social responsibility and AML deficiencies.

That amount eclipsed the £17m settlement paid by Entain in August 2022 for its regulatory failings.