Niall Hearty of Rahman Ravelli outlines the shortcomings
that led to the gambling company being fined.
British gambling company Bet 365 has been ordered to pay
£582,120 for money laundering failures.
The company, which is run by Britain's best-paid woman
Denise Coates, was fined by the Gambling Commission.
The Commission said that the company had not been carrying out
proper checks on new customers before they made their first
deposits, which led to the risk of money laundering going
undetected. The fine is set to go to a "socially
responsible'' cause that the Commission has not publicly
named.
The Commission also said that Bet365's system for preventing
harmful gambling was "not demonstrably effective'' in
identifying those who could be at risk.
