Investigation of Bet365 Anti-Money Laundering Controls Points Out Some Weaknesses

The UK Gambling Commission reveals that the investigation of Bet365’s anti-money laundering and social responsibility measures, exposed certain weaknesses in the system of the operator, which may cause shortfalls in the combat against money-laundering.

Bet365 cooperated with the investigation completely and made sure that the acquired information reached the competitive online casinos in the UK and abroad, so that the overall situation might be improved.

Future aspirations

Naturally, after the Bet365 review and investigation, the operator underwent various improvements, so that it will be able to ensure that “risk to licensing objectives is managed more effectively with its business,” according to the regulator.

The Gambling Commission added: “The operator’s senior management are clear that they wish to be among industry leaders in managing anti-money laundering and social responsibility risks and have made a public commitment to taking steps to do so.”

Matthew Hill, director Regulatory risk and analysis at the Gambling Commission, commented for the British gambling news: “This case demonstrates just how much work the gambling industry still has to do before it properly recognizes customers at risk.”

He went on to add: “But the investment of the significant funds given up by the operator into research, including into the development of predictive data analytics, to benefit customers and the industry as a whole, has the potential to deliver a positive outcome.”

Read more about how the gambling industry is fighting money laundering.