UK Gaming Commission Imposes £680,000 Penalty on Corbett Bookmakers
The United Kingdom Gambling Commission (UKGC) has imposed a fine of £686,070 ($890,000) on Corbett Bookmakers Limited, a family-owned brick-and-mortar gambling operator with 36 betting shops. The fine follows an investigation that uncovered serious lapses in social responsibility and Anti-Money Laundering (AML) practices between February 2022 and May 2024.
During a two-day compliance assessment, the Commission uncovered several key shortcomings in social responsibility measures. For instance, Corbett Bookmakers failed to flag a customer who wagered £23,674 within 13 days as a potential risk for gambling-related harm. Additionally, the operator did not adequately interact with a player who wagered £47,416 and lost £6,741 over 10 weeks.
One of the most concerning findings was Corbett Bookmakers' failure to comply with Know Your Customer (KYC) obligations. This allowed customers to stake and lose substantial amounts of money without proper checks or verification of funds. The investigation did not provide details on the specific AML regulations violated.
In terms of AML practices, the operator was found to lack proper risk assessment for money laundering and terrorist financing, resulting in an insufficiently risk-based approach to AML procedures. The UK Financial Conduct Authority (FCA) also experienced similar lapses, leading to a separate fine of £2.5 million.
John Pierce, the Commission's director of enforcement, stated that Corbett Bookmakers failed to adhere to regulations designed to make gambling safer and free from criminal activity. He urged other gambling operators to carefully consider Corbett's case and the "price" they are currently paying.
Beyond the financial penalty, Corbett Bookmakers will be required to undergo an independent audit to assess their AML compliance and responsible gambling measures. If they do not swiftly and fully implement all audit recommendations, the UKGC compliance team will reassess the situation and take further action as necessary.
However, it is not clear from the information provided whether any legal action has been taken against individual employees or managers of Corbett Bookmakers. Nor is it known whether the operator has taken steps to rectify the identified issues since the investigation.
John Pierce emphasised the importance of operators prioritising customer safety and adhering to regulations. He said, "It is the responsibility of all gambling businesses to ensure they are operating in a way that is compliant with the law and protects consumers from harm."
