UKGC Fines Corbett £686,070 for Compliance Failures
A UK-based gambling business has been ordered to pay a £686,070 penalty after a Gambling Commission investigation uncovered serious failures in social responsibility and anti-money laundering (AML) protocols.
LISTEN TO THIS ARTICLE:Corbett Bookmakers Limited, which operates 36 betting locations, will also undergo an independent audit to assess the effectiveness of its AML and safer gambling policies, to ensure it is in compliance with gaming regulations. The failures were identified during a two-day compliance review conducted by the Commission.
Social Responsibility and AML Failures
The investigation revealed multiple failings in the company’s duty to protect customers from gambling-related harm. One case involved a customer who wagered £23,674 over just 13 days, yet no action was taken to identify them as someone potentially at risk of gambling-related harm. In another instance, a customer engaged in a four-hour betting session, placing 56 bets and losing £3,523 without receiving adequate intervention from staff. Another customer staked £47,416 and lost £6,741 over a 10-week period, again without sufficient safeguarding measures in place.
In addition to these social responsibility failures, Corbett Bookmakers also failed to meet anti-money laundering requirements. Customers were able to gamble and lose significant sums without the company conducting proper checks on their source of funds.
Due to high financial thresholds set by the operator, sufficient Know Your Customer (KYC) documentation was not collected, which meant that the legitimacy of funds was not verified. One example highlighted by the Commission involved a customer who staked approximately £47,000 and lost £14,000 over an eight-month period without any proper verification of the money’s origin.
The Commission also found that the company’s risk assessment for money laundering and terrorist financing was inadequate. It failed to take into account a full range of risks associated with customers, products, geographical factors, and casino payment methods, which resulted in a weak risk-based approach to AML compliance. These breaches occurred at various points between February 2022 and May 2024.
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Heavy Criticism from Gambling Commission
John Pierce, Director of Enforcement at the Gambling Commission, stressed the seriousness of the violations.
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. All operators should carefully consider this case and the price this operator is now paying.
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