Financial penalty of £19.2 million imposed on William Hill due to negligence allowing a customer to place £23,000 worth of bets in minutes without necessary checks being implemented.

Record Fine Imposed on William Hill for AML and Social Responsibility Failures

The UK Gambling Commission has imposed a record fine of £19.2 million on three businesses owned by William Hill, marking the highest penalty in the Commission's history. The fines are the largest ever issued for failures in anti-money laundering (AML) and social responsibility measures.

WHG (International) Limited, which runs williamhill.com, will pay £12.5 million for AML failures that allowed customers to deposit large amounts without conducting appropriate checks. One customer was able to spend and lose £70,134 in a month, while another spent £18,000 in 24 hours without any checks.

Another customer lost £36,000 in four days, and another £38,000 in five weeks, due to these AML failures. One customer was allowed to open a new account and spend £23,000 in 20 minutes without any checks. These incidents highlight the importance of responsible gaming and AML practices in the gambling industry.

William Hill Organisation Limited, which operates 1,344 gambling premises across Britain, will pay £3 million for widespread and alarming failures in responsible gaming practices. The incidents involved multiple instances of customers losing large sums of money due to inadequate AML measures.

Mr Green Limited, which runs mrgreen.com, will pay £3.7 million for similar failures. The Commission found that the company failed to ensure that customers were not spending beyond their means and did not conduct adequate checks to prevent money laundering.

The fines issued to the three businesses include £19.2 million in total. The Commission stated that the failures were serious and could have been prevented with proper oversight and controls. The incidents underscore the importance of maintaining strong AML and social responsibility measures to protect consumers and prevent illegal activities.

The Commission has emphasised the need for all gambling businesses to prioritise responsible gaming and AML practices. The fines issued to William Hill are a clear indication that the Commission will not tolerate failures in these areas and will take action to protect consumers and maintain the integrity of the gambling industry.

The Commission has also announced that it will be conducting a review of the industry's AML controls to ensure that all businesses are meeting their obligations and protecting consumers from financial crime. The review will focus on areas such as customer due diligence, transaction monitoring, and reporting suspicious activity.

The fines issued to William Hill are a stark reminder of the consequences of failing to meet AML and social responsibility standards. The gambling industry must take these failures seriously and work to improve their practices to protect consumers and maintain the integrity of the industry.

Financial penalty of £19.2 million imposed on William Hill due to negligence allowing a customer to place £23,000 worth of bets in minutes without necessary checks being implemented.