UKGC Imposes EUR 780K Fine on Buzz Bingo for AML Failure

Buzz Bingo has been fined £780,000 by the UK Gambling Commission (UKGC) for social responsibility and Anti-Money Laundering (AML) violations.

Between October 2019 and December 2020, the regulatory authority identified shortcomings in company’s operation, like financial triggers that were set high, resulting in ‘insufficient risk players identification’. Due to this reason, a gambler deposited £22,400 in five days without undergoing verification procedures. Other than this, another customer deposited and lost EUR12,400 in six days with only one Covid vaccine certificate verification procedure that assured the individual is immune. 

In terms of social responsibility, the UKGC found that Buzz Bingo’s customer interaction protocols were not followed by the employees to ensure that bettors were satisfied with their spending or felt in control.

In response to the Commission’s charges, Dominic Mansour, Buzz Bingo’s Chief Operating Officer Digital, stated that one of the company’s basic pillars was player protection and a “player first” approach.

“The fine from the Gambling Commission relates to legacy issues that have now been addressed,” he said. “Buzz Bingo has reviewed and overhauled all its compliance measures and is confident that current policies and processes now meet the standards set. Moreover, Buzz Bingo has increased its current and ongoing investment to enhance all its risk and compliance processes to continually improve player protection,” said Dominic.

Buzz Bingo was fined for adopting source of funds (SOF) triggers that were “overly reliant on open sources or anecdotal information,” such as customers’ verbal guarantees. Additionally, the company also lacked proper records of AML interactions as one customer received 9 financial warnings and Buzz Bingo was not able to identify him. 

Commenting on the regulatory action, UKGC Executive Director, Helen Venn, added: “As a regulator we expect all operators to effectively implement policies and procedures which make gambling safe and crime-free. Every single gambling business should be aware that we do check that these are in place and are being adhered to. If they are not, we will take action.”

Upon reviewing the company’s operating license, the UKGC investigation concluded that Buzz Bingo has violated AML compliance, CFT regulations, Social Responsibility Code of practice (SRCP), and Ordinary Cash Provision (OCP) requirements.

However, Buzz Bingo’s Mansour asserted, “Buzz Bingo is fully committed to ensuring it meets the highest standards of compliance across its digital platform, including its Anti-Money Laundering and social responsibility obligations.”

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