Tipster News

helloGambling Commission: Corbett Bookmakers to pay £686,070hello

Gambling Commission: Corbett Bookmakers to pay £686,070

Table of Contents

No headings were found on this page.

Key points:

– Corbett Bookmakers Limited must pay £686,070 for failing to meet social responsibility and Anti-Money Laundering (AML) obligations

– Company to undergo a third-party audit for compliance with gambling safety and financial crime prevention measures

Corbett Bookmakers Limited, which runs 36 betting premises, has been hit with a £686,070 ($888,190) penalty after a two-day Gambling Commission compliance assessment revealed failures.

The breaches were related to both social responsibility and Anti-Money Laundering (AML) regulations, occurring over multiple periods from February 2022 to May 2024.

The operator failed to address high-risk gambling activity. In one instance, a customer lost over £3,500 over four hours. Another player lost over £47,000 without intervention from the company.

In response to the findings, the company will now undergo a third-party audit to ensure that policies, procedures and controls are enforced. The Gambling Commission has stated that further actions will be taken if the audit does not demonstrate measurable improvements.

Good to know: The Gambling Commission found breaches over two years, including failures to address high-risk gambling and verify customer funds, undermining harm prevention and anti-crime efforts

John Pierce, Commission Director of Enforcement, said: “This operator has failed to adhere to vital regulations designed to make gambling safer and free from criminal activity.

“As a result, it will not only pay a significant fine but also undergo a rigorous audit to ensure full compliance with anti-money laundering and safer gambling measures.

“In addition to the remedial actions already taken, we expect the operator to swiftly and fully implement the audit recommendations, demonstrating clear and measurable improvements in both policy and practice. Failure to do so will prompt our compliance team to reassess the situation and take further action as necessary.”

Other related posts