Mr Green to Cough up £3m in Fines
by Glenn Baird - February 27, 2020
The UK’s regulatory body has revealed today that Mr Green will be forced to pay the National Strategy to Reduce Gambling Harms 3 million pounds for failing to meet regulatory expectations.
The UKGC drew the following conclusions following a targeted investigation, that Mr Green:
– did not carry out social responsibility interaction with a customer who won £50,000, gambled it away and deposited thousands more pounds
– took ten-year-old evidence of a £176,000 claims payout as satisfactory evidence of source of funds (SOF) for a customer who deposited over £1m
– accepted a photograph of a laptop screen showing currency in dollars on an alleged crypto trading account as adequate SOF.
Richard Watson, Gambling Commission Executive Director, said: “Our investigation uncovered systemic failings in respect of both Mr Green’s social responsibility and AML controls which affected a significant number of customers across its online casinos.
“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.”
Mr Green is now 1 of 9 gambling firms to be fined has part of a series of regulatory investigations that has resulted in over £20m worth of fines in two years.