UK’s William Hill has been fined £19.2 million ($23.7 million) by the Gambling Commission, the largest penalty ever issued by the regulator, due to failures to protect consumers and prevent money laundering. The regulator found serious issues with safer gambling measures and anti-money laundering controls throughout the William Hill group, which caused it to consider suspending the firm’s license. However, the commission allowed the company to continue operating after it recognized its failings and made swift improvements. The gambling industry’s problematic practices have led to several large fines over the past year and a half, including the previous largest fine of £17 million given to Entain. The William Hill group had multiple failures, including allowing customers to spend large amounts of money without any checks, and deposits of large sums of money made without checks. 888, the company that owns the William Hill group, stated that the problems leading to the fines occurred before its ownership, and that it has implemented a rigorous action plan to address the issues.
William Hill Fined $24 Million by UK Gambling Commission
The UK’s Gambling Commission has issued a £19.2 million ($23.7 million) fine to William Hill for failing to protect consumers and prevent money laundering, the largest penalty ever imposed by the regulator. The commission found serious non-compliance issues with safer gambling measures and anti-money laundering controls throughout the three companies in the William Hill group, leading it to consider suspending the firm’s license. However, the commission decided to allow the company to continue to operate after it recognized its failings and implemented improvements quickly.
The gambling industry’s problematic practices have led the regulator to issue several large fines in the past year and a half. Entain received the previous biggest fine of £17 million. The government has tightened gambling rules in recent years to prevent addiction by capping the maximum stake on terminals and banning the use of credit cards to place bets.
The William Hill companies were found to have multiple failures, including allowing a customer to spend £23,000 in 20 minutes without any checks and another to lose £14,900 in 70 minutes. Deposits of large sums of money were also made without checks. 888, which owns the William Hill group, stated that the problems leading to the fines occurred before its ownership, and that the company has implemented a rigorous action plan to address the issues.
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