The UK’s Gambling Commission has suspended Deadheat Racing’s operating license after raising concerns about social responsibility and possible anti money laundering failures.
Deadheat Racing has been operating with General Betting Standard licenses since January 2015, which let the company offer betting services at betting shops and at tracks or courses.
The license also allows operators to have up to four gaming machines in each betting premises, as long as they are category B2 or lower and not B3A.
According to the British regulator, Deadheat Racing’s license was suspended because of concerns that “activities have been carried out in a manner which is inconsistent with the licensing objectives, not in accordance with conditions of their licence and that the licensee may be unsuitable to carry on the licensed activities.”
The commission said possible social responsibility issues and anti money laundering failures were “key considerations” in making the decision.
“We have made it clear to the operator that during the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them,” the commission said.
UK Gambling Commission crackdown on operators’ AML failures
This comes just a day after the regulator hit online operator Videoslots Limited with a £650,000 ($851,000) fine for similar AML failings. Videoslots was also given a warning and told to undergo an independent audit to make sure its anti–money laundering and safer gambling controls are actually being followed. In July, the regulator announced a new approach to fines, which officially took effect on October 10.
The changes require the commission to spell out a clear seven-step process for deciding financial penalties. They also need to be transparent about how they judge the seriousness of a breach, using a new five-level scale.
Penalties will now start from a percentage of the Gross Gambling Yield (or similar income) linked to how serious the breach is, and can then be adjusted for things like aggravating or mitigating factors, deterrence, or early resolution.
Featured image: Gambling Commission
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