Boylesports Enterprise now faces tougher licensing conditions and a huge £2.8 million fine after the UK Gambling Commission completed an assessment of the company finding it in breach of money laundering rules. Both Boylesports.com and Boylecasino.com were found to be in violation of rules created to prevent money laundering practices.
The Investigation
The Gambling Commission is on a mission to raise the standards of the gambling industry. The assessment of the operator was done as part of that mission. The investigation into the company revealed that a money laundering risk assessment was not in place. The policies, procedures, and controls the company had in place for anti-money laundering were found to be unsuitable.
The online gambling operator was also found to have failed to comply with parts of the Money Laundering Regulations. The Gambling Commission executive director, Richard Watson, commented on the findings by stating:
“It is vital that all gambling businesses have effective anti-money laundering policies and procedures firmly in place and as part of our ongoing drive to raise standards we will continue to take tough action against operators who do not.”
Steps to Take
Boylesports has been given an official warning as well as a large fine due to the infractions and must meet new licensing conditions. A Money Laundering Reporting Officer must be appointed and be qualified to do the job, an individual who has a Personal Management License. This individual must receive continual training and provide evidence of such training to the Commission.
Certain staff members like the Personal Management License holders, key control employees, and senior management are to take anti-money laundering training. Refresher training needs to be completed annually. The company must also continually review its policies, procedures, and controls connected to anti-money laundering measures.
Play games casino online games refers to participating in casino-style games through an online platform. In essence, it combines the excitement of traditional casino games, like slots, blackjack, poker, and roulette, with the convenience of playing them online.
When you play games casino online, you can enjoy:
-
Variety of Games: Many online casinos offer a huge range of games, from popular slots to live dealer games, replicating the casino experience at home or on mobile.
-
Accessibility: Online casinos allow you to play anytime and anywhere, making it easy to enjoy your favorite games without traveling to a physical location.
-
Bonuses and Promotions: Online casinos often offer promotions, welcome bonuses, and rewards, enhancing your experience and providing extra funds to play with.
-
Real Money or Free Play: Most platforms offer options to play for real money or for fun, giving players the flexibility to test games before committing financially.
Online casino games bring the thrills and potential rewards of a real casino experience to your screen, with the added security, convenience, and bonuses that online platforms provide.
