An online Casino operator in the United Kingdom; Genesis Global Limited, has been levied with a £3.8 million fine for significant shortcomings in its required anti-money laundering and social responsibility protocols.
According to the UK Gambling Commission, the fine was given after careful investigation of the operator. A formal warning as well as an additional condition on their license, which requires them to conduct further auditing, was also issued to Genesis Global.
Some of Genesis’s social responsibility failures according to Helen Venn of the Gambling Commission, was inability to carry out any meaningful responsible gambling interactions on people’s accounts, thereby allowing customers to wager in excess of their earnings, over a short period. Some of their money laundering failures was also reported to be as a result of allowing customer (s) deposit large sums, like over £1.3 million and lose over £600,000 without any source of funds checks, by the operator.
The gambling Commission in a statement by its Licensing and Compliance Executive Director stated that it will use all tools in its disposal to ensure consumer safety, including stopping businesses that is not compliant, from operating.