UKGC Fines Two Operators a Combined £675,000 + Suspends License of Another Operator

The UKGC fines two operators and suspends the license of a third. Anti-money laundering and responsible gambling failures are among the reasons. (Image from [email protected])

The UKGC has once again been forced to take regulatory action after investigations discovered that two operators have failed to adequately adhere to the rules and regulations set out by the regulatory body. The UKGC has also suspended the license of another operator for similar failings.

The UKGC, the UK Gambling Commission that recently updated its fair terms and practices guidance, has issued fines to Jumpman Gaming and Progress Play. The two operators that run 440 casino websites between them were fined a combined £675,000. Jumpman Gaming, a Guernsey-based casino and bingo operator that operates 243 websites, is ordered to pay £500,000. As for Progress Play, an operator that runs 201 websites has been fined £175,718.

Anti-money laundering and social responsibility failures are once again behind the latest fines dished out by the UKGC. Both Jumpman Gaming and Progress Play were found to have committed failings in the implementation of anti-money laundering policies, while other rule breaches involved failings at protecting vulnerable people and deficiencies in responsible gambling policies.

Jumpman Gaming Issued Half a Million Fine After Inquiry Found Regulatory Failings

An inquiry of Jumpman Gaming was initiated between February and July 2020. It looked into a sample of accounts that were opened throughout this period of time. The review identified the company had repeatedly failed in the implementation of anti-money laundering, policies, and controls. The operator was also found to have weaknesses in the implementation and several deficiencies regarding responsible gambling policies.

As a result, Jumpman Gaming must pay its financial penalty of £500,000, which will go towards the funding of the National Strategy to Reduce Gambling Harm. On top of that, the operator must accept the public statement issued by the UKGC and also pay the investigation costs accrued.

A Review Into Progress Play Found Similar Failings

A similar investigation was performed on Progress Play. It commenced on the 14th of August 2020 and soon identified failings in the company’s processes designed to prevent money laundering and protect vulnerable people. Again, the fine of £175,718 will go to the National Strategy to Reduce Gambling Harm, while the firm must also pay around £12k to cover the costs of the investigation.

This is not the first time, and it will not be the last time, that the UKGC takes action against operators that fail to adhere to regulations. In fact, some big-name operators have felt the full force of the UKGC in recent months. 888 Holdings, the company expected to acquire William Hill’s non-US assets following a shareholder vote, received a £9.4 million fine at the start of March for similar failings. Genesis Global Limited and Greentube Alderney are two other major operators that have been hit with fines in recent months.

Goldchip Limited has its UKGC License Suspended

Again, due to social responsibility and anti-money laundering failings, the UKGC has gone one step further with Goldchip Limited. The regulatory body has suspended the operating license of the firm. The UKGC has urged the operator to use the course of the suspension to treat its members fairly and to keep them updated on current and future developments. Members of Goldchip.com still have access to their accounts and can withdraw funds. All other areas of the platform have been suspended until further notice.

Could cryptocurrencies become a form of payment at UK online casinos? In a recent article, we looked at the possibility of cryptocurrencies becoming an accepted payment method at regulated UK Casinos. This follows the UK government announcing it would soon regulate stable coins within the country.