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Paddy Power fined £2.2m over gambling check failings

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Paddy Power fined £2.2m over gambling check failings 17th October 2018

An online operator is to pay £2.2m for failing to protect customers and
stop stolen money being gambled.


A Gambling Commission investigation found that the bookmaker fell short
on interacting with customers who showed signs of problem gambling and on
carrying out anti-money laundering checks.


The case centred on the behaviour of five customers in 2016, including
one using the Betfair online exchange who had stolen "a significant amount
of money" from his employer, a charity.


Another punter using Betfair had also been using stolen money while the
regulator identified weaknesses in "source of wealth and social
responsibility checks" for three online and betting shop customers of
Paddy Power Betfair.


The company is to pay out £500,000 it received from the gamblers and
£1.7m towards the commission's work on its responsible gambling strategy.


The settlement includes money being returned to the charity from which
it had been stolen by one of the customers.


Richard Watson, Gambling Commission Executive Director, said: “As a
result of Paddy Power Betfair’s failings significant amounts of stolen money
flowed through their exchange and this is simply not acceptable. Operators have
a duty to all of their customers to seek to prevent the proceeds of crime from
being used in gambling.


“These failings all stem from one simple principle – operators must
know their customer. If they know their customer and ask the right questions
then they place themselves in a strong position to meet their anti-money
laundering and social responsibility obligations.”

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