Feb 20, 2018
William Hill fined £6.2m for lax controls
Betting firm William Hill has been hit with a £6.2m penalty package for breaching anti-money laundering and social responsibility regulations. As a result 10 customers were able to deposit money linked to criminal offences and William Hill gained £1.2m. The company was found to have not done enough to determine the source of the money or if they were problem gamblers. William Hill will pay more than £5m for breaching the regulations and "Divest themselves of the £1.2m they earned from transactions with the 10 customers", the Commission said. Neil McArthur, executive director at the Gambling Commission, said: "This was a systemic failing at William Hill which went on for nearly two years and today's penalty package - which could exceed £6.2m - reflects the seriousness of the breaches." "In a statement, William Hill chief executive Philip Bowcock said:"William Hill has fully co-operated with the Commission throughout this process, introducing new and improved policies and increased levels of resourcing.
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