A few months ago 888 Holdings owners of Dragonfish Bingo were fined a substantial amount of money by the Gambling Commission for their social responsibility and anti-money laundering failings.
Customer Transactions At William Hill Linked To Criminal Offences
Last week we saw William Hill hit where it hurts, on the bottom line, with a fine that while not quite as large, was also quite hefty at £6.2 million!
What has astounded the industry as a whole, and the general public is the extent of their failings, and the Gambling Commission themselves described them as ‘systematic failures’.
An investigation from the Gambling Commission found that in a period of just less than two years (November 2014 until August 2016) William Hill breach anti-money laundering and social responsibility failures.
It was assessed that management had not mitigated risk, nor did they have the right amount of staff to ensure policies for anti-money laundering and social responsibility were effective.
Because of this, there were ten players who were able to deposit quite large amounts of money in a short period of time that was linked to criminal offences.
The deposits from these customers’ alone results in gains for William Hill of approximately £1.2 million. This amount is part of the fine and will be divested.
Examples Of Failings By William Hill
In the article published on the Gambling Commission website, several examples were shown. Below are just a couple taken from the article:
- One player deposited a whopping £654,000 in just nine months and no one from William Hill checked the source of his funds. It was found that the player in question rented property and was only earning £30,000 a year in an accounts department.
- Another customer deposited less, but not much, in a longer period of 14 months. His deposits in that period totalled £541,000 but William Hill did speak to him verbally. From that conversation, they made the assumption that his potential income could be £365,000 but actually, he was earning £30,000 and stealing from his employer!
Other examples can be found on the original article at the Gambling Commission website.
William Hill has since made numerous changes in its organization to ensure that it meets compliance regulations in the United Kingdom.
Cleaning up its act means that it will now start asking all sorts of questions in relation to deposits made by players.
The online bingo industry has in recent times felt the full force of this new regulatory compliance. Bingo players on the Dragonfish Bingo network have been put through this process over the last 2 months.
It is also a direct consequence of the fine that was paid for being non-compliant.