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Mr Green receives £3 Million Pound Fine

Mr Green receives £3 Million Pound Fine

Online gaming firm Mr Green, owned by William Hill, has been fined a £3 million penalty for failing to have the appropriate procedures that protect gambling addicts in place. The Gambling Commission added that Mr Green did not have measures that checked customers were using appropriate sources of money. 

The commission has said that its investigation resulted in uncovering ‘‘systematic failings’’. 

Mr Green did not freeze a customer’s account who won £50,000 and gambled it away before depositing thousands more. The company also accepted a 10-year-old document showing a £176,000 claims payout as satisfactory evidence of source of funds for a customer who deposited more than £1m. 

Mr Green is the ninth company to face penalties as part of a scrutiny exercise carried out by the Gambling Commission into safeguarding failures by online casinos and poor measures to prevent money laundering. It is of utmost importance that Gambling companies check the customer’s source of funds in order to make sure that they are not laundering money or betting more than they can afford which indicated a possible gambling addiction. 

The Gambling Commission has issued more than £20m in penalties since 2018.

 

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The money will go to the National Strategy to Reduce Gambling Harms, which provides treatment and provides help for addicts.

The Gambling Commission’s executive director said that the investigation uncovered systemic failings in respect of both Mr Green’s social responsibility and anti-money laundering controls which affected a significant number of customers across its online casinos

He also added that consumers in Britain have the right to know that there are checks and balances in place which will help keep them safe and ensure gambling is crime-free – and we will continue to crack down on operators who fail in this area.

William Hill acquired Mr Green in 2019 for a whopping £242 million.

Click here to find out more about responsible gaming.

Source : https://www.bbc.com/news/business-51657271