Entain fined £17m for social responsibility and anti-money laundering failures
By Michele Maatouk
Date: Wednesday 17 Aug 2022
(Sharecast News) - Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility and anti-money laundering failures.
The company will pay £14m for failures at its online business LC International Limited, which runs 13 websites including ladbrokes.com, coral.co.uk and foxybingo.com. It will also pay £3m for failures at its Ladbrokes Betting & Gaming Limited operation which runs 2,746 gambling premises across Britain.
The fine will be directed towards socially responsible purposes as part of a regulatory settlement.
Gambling Commission chief executive Andrew Rhodes said: "Our investigation revealed serious failures that have resulted in the largest enforcement outcome to date.
"There were completely unacceptable anti-money laundering and safer gambling failures. Operators are reminded they must never place commercial considerations over compliance.
"This is the second time this operator has fallen foul of rules in place to make gambling safer and crime free.
"They should be aware that we will be monitoring them very carefully and further serious breaches will make the removal of their licence to operate a very real possibility. We expect better and consumers deserve better."
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN