UKGC Fines Lottomart £360,000 for AML and Social Responsibility Failures
The UK Gambling Commission (UKGC) has reached a settlement with Lottomart, trading as Maple International Ventures Limited, over Anti-Money Laundering (AML) and corporate social responsibility failures. The company will pay £360,000, with the funds going towards socially responsible causes.
The UKGC discovered several shortcomings in Lottomart's practices. The operator failed to establish robust processes for monitoring customer activity and harm, allowing customers to surpass financial thresholds set by the operator. Despite these issues, the UKGC acknowledged mitigating factors, such as Lottomart's unblemished track record and efforts to address the problems. Lottomart had already begun rectifying the issues before the regulator's involvement. The UKGC's Director of Enforcement, John Pierce, stressed the importance of meeting AML and corporate social responsibility standards.
Lottomart has settled with the UKGC for £360,000, with the funds earmarked for socially responsible causes. The UKGC found both mitigating and aggravating factors in the case, but noted Lottomart's lack of previous transgressions. The regulator emphasized the necessity for operators to meet AML and corporate social responsibility standards to maintain a safe and fair gambling environment.
