UK gambling company Greentube pays £1 million in settlement to UK Gambling Commission due to breaches in regulations
The UK Gambling Commission has announced a settlement of £1m with Greentube Alderney, a subsidiary of NOVOMATIC, following regulatory breaches by its casino, Admiral Casino. The settlement, published on the Commission's home page on Thursday, January 9, is the latest enforcement action Greentube has faced in the United Kingdom, following a previous order to pay £685,000 in 2021 over similar issues.
The breaches involve failing to label high-risk professions, such as those with access to other people's funds, as high-risk. In addition, Admiral Casino was found deficient in executing a timely review of available information, leading to an avoidable delay in the identification and potential escalation of money laundering and/or terrorist financing risks. The casino also failed to follow through with its own internal policies on ensuring that customer documents were genuine.
A specific case concerns a finance manager who was suspected in a notable transaction case involving Admiral Casino for violations of money laundering and terrorist financing. However, the name of this individual remains undisclosed.
The UK Gambling Commission named deficiencies in the process of detecting potential harm in a timely manner. The casino, Admiral Casino, also failed to enforce a policy that guarantees customer limits are based on regular and sustainable income.
John Pierce, the UKGC Director of Enforcement, has commented on the latest settlement reached with the company. He noted that while improvements have been made, further breaches were still identified. Pierce emphasized the need for all operators to ensure their business operations do not breach rules designed to safeguard consumers and keep the industry clean.
The operator was required to implement an effective action plan to remedy all identified failings. The UK Gambling Commission will continue to monitor this operator to ensure they consistently meet the required regulatory standards.
The ruling against Admiral Casino comes shortly after Novomatic announced that Tipico had bought a 100% stake in Admiral Austria for an undisclosed amount. Despite these challenges, it is hoped that the necessary changes will be implemented to ensure compliance with UK gambling regulations.
