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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-03-29T18:13:00
The U.K. Gambling Commission announced Tuesday three units of British bookmaking service William Hill Group will pay a record fine of 19.2 million pounds (U.S. $23.7 million) for failures regarding social responsibility and anti-money laundering (AML).
WHG (International) Limited will pay £12.5 million (U.S. $15.4 million), Mr. Green Limited will pay £3.7 million (U.S. $4.6 million), and William Hill Organization Limited will pay £3 million (U.S. $3.7 million). William Hill Group, which was acquired by 888 Holdings in July, operates more than 1,000 gambling premises across the United Kingdom.
Andrew Rhodes, U.K. Gambling Commission chief executive, said the company’s failings “were so widespread and alarming, serious consideration was given to license suspension.” However, since the company recognized its shortcomings and worked with the commission to implement improvements, it was not suspended and instead subjected to the largest enforcement action in the regulator’s history, said Rhodes.
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Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-07-30T18:09:00Z By Helen Siegieda, International Compliance Association
Recent events have put a spotlight on the role of the U.K. Gambling Commission, following its investigation into privileged information allegedly being used to bet on the date of the U.K. general election.
2023-02-13T19:21:00Z By Neil Hodge
Barclays Bank is reportedly being investigated by the U.K. Financial Conduct Authority for failures regarding its anti-money laundering procedures and controls.
2023-01-26T19:01:00Z By Aaron Nicodemus
U.K. online gaming company In Touch Games was fined £6.1 million (U.S. $7.6 million) by the country’s Gambling Commission for a series of anti-money laundering failures—its third such penalty since 2019.
2024-11-20T18:15:00Z By Aaron Nicodemus
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
2024-11-19T21:05:00Z
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
2024-11-19T19:26:00Z By Aaron Nicodemus
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
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