Gambling Commission Imposed a £6.1 Million Fine on Touch Games for Money Laundering Failings
The Touch Games, a gambling firm that operates 11 websites, has been fined £6.1 million over failings on social responsibility and money laundering failings.
According to the gambling commission, the Touch Games, a gambling service provider that operates eleven websites including bonusboss.co.uk, cashmo.co.uk, drslot.co.uk, jamymonkey.com and slotfactory.com, has been fined £6.1 million ($7.5 million) for money laundering and social responsibility failings.
The responsibility failures include business’s lack of social interaction with customers. The sources report that the firm did not interact with a customer for seven weeks after they had been flagged for erratic and extended play, also accepting customer’s word that they earned £6,000, without any verification, until they were flagged for gambling during unsociable hours.
AML (Anti-money laundering) failures include not having proper policies, processes and procedures in house controls, that were insufficient considering or implementing the regulator’s money laundering and terrorist risk financing assessment or guidance.
This is the third time Touch Games has faced regulatory action. Previously, in 2019, the firm paid £2.2 million settlement for failures and also, in 2021, it received a £3.4 million fine and a warning of further failures.
The Executive Director of Operations at the Gambling Commission, Kay Roberts said,
“Considering this operator’s history of failings we expected to see significant improvement when we carried out our planned compliance assessment.”
“Disappointingly, although many improvements had been made, there was still more to do.”
“This £6.1 million fine shows that we will take escalating enforcement action where failures are repeated and all licensees should be acutely aware of this.”
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