Online gambling business Maple International Ventures Limited is to pay £360,000 after a Commission investigation revealed social responsibility and anti-money laundering failures, a first on the operator’s otherwise unblemished regulatory history.
The investigation reported breaches of Licence Conditions and Codes of Practice (LCCP), including failure to conduct assessments of risk of money laundering (LCCP 12.1.1(1)) between June 2023 and July 2024. Other violations included ineffective monitoring of customer activity, such as the creation of duplicate accounts and inadequate definition of harm indicators.
The operator, which runs the casino and betting website Lottomart.com, will pay the money as part of a settlement with the Commission, and swiftly enacted a remedial action plan, co-operating and accepted the investigation outcomes appropriately.
All £360,000 will go to socially responsible causes, with past recipients including GambleAware, Money and Mental Health Policy Institute, and Swansea University.
John Pierce, Commission Director of Enforcement, said: “The cornerstone of every licensed business must be the proper implementation of effective policies and procedures aimed at making gambling crime free and safer. This operator is now being held to account for anti-money laundering and social responsibility failings uncovered during a compliance assessment.We would advise all operators to read the Maple International Ventures public statement and consider whether their own policies and procedures are both effective and are being successfully implemented.”
In their public statement, the Gambling Commission emphasised the legal duty to adhere to the Gambling Act 2005, review practice, and implement improvements in accordance with the conditions of their licence.
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Online gambling business Maple International Ventures Limited is to pay £360,000 after a Commission investigation revealed social responsibility and anti-money laundering failures, a first on the operator’s otherwise unblemished regulatory history. The investigation reported breaches of Licence Conditions and Codes of Practice (LCCP), including failure to conduct assessments of risk of money laundering (LCCP 12.1.1(1))…
The post Maple International Ventures Limited faces £360,000 regulatory action appeared first on G3 Newswire.