12/24/2023 0 Comments Betway com casino![]() ![]() Richard Watson, Executive Director at the Gambling Commission, said: “The actions of Betway suggest there was little regard for the welfare of its VIP customers or the impact on those around them.” The regulator probe also revealed inadequate management oversight and investigations into responsible Personal Management Licence holders are ongoing. The majority of this money will now be taken and returned to victims. The investigation found that as a result of a lack of consideration of individual customers affordability and source of funds checks, the operator allowed £5.8 million of money to flow through the business which has been found, or could reasonably be suspected to be, proceeds of crime. In another, they failed to carry out effective social responsibility interactions with a customer who deposited and lost £187,000 in two days. In one instance, the operator failed to carry out source of funds checks on a ‘VIP’ customer who deposited over £8 million and lost over £4 million during a four-year period. Online gambling business Betway is to pay £11.6 million, as well as implementing a package of measures, for a series of social responsibility and money laundering failings linked to dealings with seven of its high spending customers. ![]() Betway to pay £11.6m for failings linked to 'VIP' customers ![]()
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