888 Fined £9.4 Million for Social Responsibility and Anti-Money-Laundering Failures
Company: 888 Holdings plc
Summary
In March 2022, the UK Gambling Commission fined 888 UK Limited £9.4 million after an investigation identified social-responsibility and anti-money-laundering failures. The regulator said the company failed to effectively identify and interact with customers at risk of gambling harm and had deficiencies in financial checks and anti-money-laundering controls. The Commission imposed an official warning and required extensive independent auditing. The regulator noted that this was the second major enforcement action against 888, following a £7.8 million penalty package in 2017 for failures involving vulnerable customers. The overall financial penalty was £9,409,756.48, including a penalty element and an amount intended to eliminate financial gain. Source: UK Gambling Commission https://www.gamblingcommission.gov.uk/news/article/gbp9-4m-fine-for-online-operator-888