William Hill Receives Massive £6.2m Fine From Gambling Commission
Gambling giant William Hill has been handed one of the largest fines in the UK Gambling Commission’s history over failures to spot problem gambling and prevent money laundering. William Hill will have to pay £6.2m for their failures as the Gambling Commission found that over two years to August 2016 they failed to not only identify problem gamblers abut also fell short in their social responsibility regulations by not preventing anti money laundering going on under their noses.
This massive fine is only second to the £7.8m received last year by 888 who were found wanting for not protecting vulnerable customers. According to the Gambling Commission 10 customers were able to deposit money that was linked to criminal activities.
According to executive director of Gambling Commission Tim Miller, there were clear and obvious signs of problem gambling in certain customers that William Hill should have identified and taken action against.
He went on to say that the spending patterns that showed escalating sums of money were being spent and should have set off massive alarm bells but the checks were simply not happening.
The seriousness of the breach and the clear message that the Gambling Commission meant business was reiterated by executive director of the regulator Neil McArthur who said the commission would not hesitate to use their full range of powers in order to ensure gambling was safe and fair.
In response to the fine William Hill’s CEO Philip Bowcock said,” William Hill has fully co-operated with the commission throughout this process, introducing new and improved policies and increased levels of resourcing. We have also committed to an independent process review and will work to implement any recommendations that emerge from that review.”