Day: 10 October 2019

UKGC Slaps Betfred with £322,000 Fine for Anti-Money Laundering Failures in November 2017

Thu 10 Oct 2019 9.05 Olivia Cole
UKGC Slaps Betfred with £322,000 Fine for Anti-Money Laundering Failures in November 2017

The online gambling operator Petfre (Gibraltar) Limited, which trades as Betfred, is facing a regulatory fine for money laundering failures which emerged as a result of an investigation held by the British gambling regulatory body. The investigation of the UK Gambling Commission (UKGC) found that Betfred failed to carry out the suitable checks for the source of funds of a customer who deposited £210,000 and lost £140,000 on the company’s website in a 12-day period back in November 2017. It turned out that the customer played with stolen money, and…

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About 130,000 British Children Flagged as Being Interested in Gambling on Facebook, New Investigation Finds

Thu 10 Oct 2019 7.37 Daniel Williams
About 130,000 British Children Flagged as Being Interested in Gambling on Facebook, New Investigation Finds

A joint investigation of the Danish Broadcasting Corporation and The Guardian has found that hundreds of thousands of underage individuals have been able to see adverts about gambling and alcohol on Facebook. According to the investigation’s results, the advertising tools of the social network mark 740,000 children under the age of 18 as being interested in gambling. About 130,000 of these underage individuals have been British. In addition, approximately 940,000 minors, 150,000 of whom originate from the UK, are flagged as being interested in alcoholic beverages. As learned from the…

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