Inability to protect clients and avoid money laundering resulted in £6.2 mln fine for William Hill, London-based bookmaker, according to the Gambling Commission.
Today’s statement by the commission said that the probe had disclosed that the company had violated anti-money laundering rules, as well as social responsibility regulations over the period starting November 2014 to August 2016.
Firm’s top managers had not taken action enough to lessen risks and provide adequate number of workers to make certain that anti-money laundering and social responsibility measures had been effective, the commission said.
10 clients had been let deposit big amounts of money connected to crimes, eventually bringing William Hill profit of about £1.2 mln, it also said. At that time the company did not take appropriate actions to determine the source of the money or ascertain they were not problem gamblers.
The bookmaker will pay over £5 mln for violation of regulations and £1.2 mln it made from the deals with the 10 clients. Victims of those clients will get reimbursement, in case they are identified.