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The online gambling business Maple International Ventures Limited has to pay £360,000 (roughly $490,747) following a Gambling Commission investigation.
The UK-based regulator, which licenses and regulates most types of gambling, says an investigation they completed revealed “social responsibility and anti-money laundering failures.”
The operator runs a casino and betting website called Lottomart.com and the money will be paid as part of a settlement with the Commission. The full amount will go to ‘socially responsible causes,’ the regulator says.
It was in the review that failings were found related to the company’s Anti-Money Laundering / Counter Terrorism Financing (AML/CTF) and Social Responsibility (SR) controls. One of the issues is related to a risk assessment, which was found to be not appropriate during June 2023 and July 2024, along with other concerns that were also found.
“Some key risks were omitted from the Licensee’s risk assessment (for example, organised crime gangs and mule accounts) and it was lacking in sufficient detail. In addition, there was no evidence that it had been updated to take into account current or historical versions on the Commission’s Risk Assessment, AML Guidance or Emerging Risks publications,” the public statement reads.
Gambling Commission speaks out about Maple International Ventures
John Pierce, Commission Director of Enforcement, said: “The cornerstone of every licensed business must be the proper implementation of effective policies and procedures aimed at making gambling crime free and safer.
“This operator is now being held to account for anti-money laundering and social responsibility failings uncovered during a compliance assessment.”
Along with the financial penalty, the regulatory settlement also includes an agreement to the publication of a statement of facts in relation to this case, along with payment towards the Commission’s costs of investigating the case.
“We would advise all operators to read the Maple International Ventures public statement and consider whether their own policies and procedures are both effective and are being successfully implemented,” Pierce continued.
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