International edition
August 17, 2019

According to a UK Gambling Commission investigation

Paddy Power Betfair faces penalty package for social responsibility and money laundering failures

Paddy Power Betfair faces penalty package for social responsibility and money laundering failures
Two of the customers were using PPB’s betting exchange and a further three were gambling using the operator’s online presence and retail premises.
United Kingdom | 10/16/2018

Two of the customers were using PPB’s betting exchange and a further three were gambling using the operator’s online presence and retail premises.

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UK Gambling Commission investigation has revealed that Paddy Power Betfair failed to adequately interact with customers who were displaying signs of problem gambling and failed to adequately carry out anti-money laundering checks. The online operator is to pay USD 2.9m for failing to protect customers and stop stolen money being gambled.

Two of the customers were using PPB’s betting exchange and a further three were gambling using the operator’s online presence and retail premises.

Richard Watson, Gambling Commission Executive Director, said: “As a result of Paddy Power Betfair’s failings significant amounts of stolen money flowed through their exchange and this is simply not acceptable. Operators have a duty to all of their customers to seek to prevent the proceeds of crime from being used in gambling.

“These failings all stem from one simple principle – operators must know their customer. If they know their customer and ask the right questions then they place themselves in a strong position to meet their anti-money laundering and social responsibility obligations."

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