Failure to protect problem gamblers and prevent money laundering leads to record £19.7 million in fines
In 2018 the UK Gambling Commission imposed £19.7 million in fines against nine operators.
It doesn't seem to matter who the regulator was in 2018 - it was a busy year! In July, the Malta Gaming Authority (MGA) reported on the number of fines, breaches, reprimands, licence cancellations and suspensions in 2018. Today in our blog, we'll tell you about the UK Gambling Commission which issued a record of £19.7m in fines for 2018.
Nine sanctioned operators
The fines were imposed against nine operators with the proceeds split between the Treasury and compensation to consumers and other affected parties. The largest offender was Daub Alderney that was fined £7.1 million by the other companies including Flutter Entertainment. We've told you about UK Gambling Commission fines in the past including £500.00 against Rank Group and £2 million against 32Red.
The fine represents a £1.3 million increase over 2017, partly attributed to increased enforcement.
Year-on-year increase in fines
The total fine represents an increase of £1.3 million over the £18.4 million in 2017. The increase year-over-year was not necessarily an increase in violators but rather a concerted effort to increase enforcement that was launched in July of that year. This included higher penalties for repeated and systemic failings.