UK Gambling Commission

Online gambling company Greentube Alderney, part of the Greentube family of iGaming companies, has been ordered to pay £685,000 (€804,328) by the UK Gambling Commission after it found shortcomings with social responsibility and money laundering failures.

Greentube Alderney – which operates admiralcasino.co.uk and bellfruitcasino.com – will also undergo extensive independent auditing for the failures which occurred between December 2019 and November 2020.

The Commission investigation revealed that the operator failed to:

  • Interact with customers in a way which minimises the risk of customers experiencing gambling harms
  • Conduct adequate assessments of the risk of money laundering
  • Have in place and implement appropriate policies, procedures and controls to prevent money laundering
  • To alert the Commission to an event that could have a significant impact on the nature or structure of a licensee’s business

Helen Venn, Commission Executive Director, said: “Compliance with Commission rules aimed at keeping people safe and gambling crime free is not optional. We will always take firm action against those operators who fail to meet the high standards we expect for consumers in Britain.”

On its part, Greentube has accepted that its policies were lacking in terms of making proper provisions for monitoring money laundering risks during out-of-hours, it admitted its record-keeping processes at the time of the Commission’s investigation were not adequate and it was not always able to provide clear evidence of an audit trail to demonstrate decision making.

Continue Reading

Protect your cryptocurrency with these five expert tips

29 March 2024
by iGamingCapital.mt

'Hacks, scams and rug pulls not only pose a threat to individual investors but cast a shadow on the broader narrative of cryptocurrency as a revolutionary force in finance'

Safeguarding Malta’s business ecosystem: Geraldine Spiteri Lucas discusses recent changes at the MBR

28 March 2024
by Ramona Depares

'Processes have been re-engineered to specifically make it easier for companies to fulfill their reporting responsibilities’

Is the 4-day work week a trend or a reality?

27 March 2024
by iGamingCapital.mt

While the idea is certainly catching on, the big question remains whether it will become a standard and what consequences impacts this working arrangement will have

Responsible online gambling in Malta: Measures and practices in the online gambling sector

26 March 2024
by iGamingCapital.mt

Responsible gambling means being aware of the risks involved and taking care to never bet more than you can afford to lose

See more