After an inquiry found ‘inadequate anti-money laundering and social responsibility procedures’, the UK Gambling Commission (UKGC) has forced White Hat Gaming to pay a £ 1.3 million regulatory settlement.
National Gambling Harms Mitigation Strategy
The reimbursement from the operator has been made ‘in lieu of a financial penalty’ which will be aimed at delivering the National Gambling Harms Mitigation Strategy.
In a statement, the UKGC confirmed that its review investigated the handling of the operator’s seven customer accounts after questions were raised in a compliance assessment in March 2019.
The regulator disclosed that in the way White Hat Gaming detected and handled customers who were at higher risk of money laundering and problem gambling, it had identified deficiencies.
This applied to three incidents where the operator had not found the source of funds for a customer who lost £ 70,000 in three months, poor contact with both a second customer who lost £ 50,000 in just six hours, and a third customer who lost £ 85,000 in just over an hour.
On the operator’s www.grandivy.com, www.21casino.com, www.hellocasino.com and www.dreamvegas.com websites, the problems occurred.
UKGC Executive Director Richard Watson said: “Through our tough compliance and enforcement activity we will continue our work to raise standards in the industry and continue to hold failing operators to account.”
Following the inquiry, as part of an ongoing initiative in partnership with the UKGC, the online operator has committed to make changes to both its policies and procedures.
These changes include the automatic avoidance of more spending once thresholds are reached, an increase in safer consumer gambling interactions, more efficient fund management sources, and frequent assessments of controls and processes for anti-money laundering.