Star Racing Limited is the latest gambling operator to be hit with a fine from the UK Gambling Commission (UKGC) over anti-money laundering (AML) and social responsibility failings.
The company has to pay a £594,000 ($777,482) penalty and adhere to additional licensing conditions on the back of the UKGC decision. The violations took place between March 2020 and May 2021, with the operator now ordered to conduct risk-based due diligence on all of the third parties that it deals with.
The AML issues relate to Star Racing not having sufficient controls, procedures, and policies in place. It allowed users to add significant sums to their accounts without first having to provide source of funds information. The operator also did not analyze source of funds information if received.
The social responsibility issues included the failure to properly understand the role that effective customer interactions place to minimize the risks of problem gambling.
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