Feb 20, 2018

William Hill to pay £6.2m over money laundering failures

The UK's gambling regulator has issued a £6.2m penalty to William Hill for "Systemic" failures to prevent money laundering and problem gambling in its online business. William Hill agreed to pay £5m to charitable causes and set aside £1.2m to reimburse victims after the Gambling Commission identified at least 10 occasions where the bookmaker profited from customers who may have been using the proceeds of crime to gamble. The Gambling Commission said "Systemic senior management failure" meant William Hill did not have adequate staffing or systems in place to respond to repeated alerts about suspicious behaviour. In total, the identified customers deposited £3.4m with William Hill, generating more than £1.2m in gross gambling yield for William Hill. Neil McArthur, Gambling Commission executive director, said: "Gambling businesses have a responsibility to ensure that they keep crime out of gambling and tackle problem gambling - and as part of that they must be constantly curious about where the money they are taking is coming from."

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