After a breach in the UK’s Gambling Commission rules, Boylesports Enterprise has had tougher conditions imposed upon its operations.
The company had its licence amended by the commission after an assessment showed up a series of money laundering failures with its Boylesports.com and Boylecasino.com websites.
The regulator is constantly working to raise standards across the gambling industry and the investigation showed that the company did not have the correct money laundering risk assessment in place and its policies in this area were unsuitable.
Gambling Commission director Richard Watson said: “It is vital that all gambling businesses have effective anti-money laundering policies and procedures firmly in place and as part of our ongoing drive to raise standards we will continue to take tough action against operators who do not.”
Fining Boylesports Enterprise £2.8m, the commission also added licence conditions, including maintaining an appropriate reporting officer and holder of a Personal Management Licence who will also have to undertake annual refresher training.
Also the company must make sure that all PML holders, senior management and key staff have AML training and the company must constantly review its AML policies and procedures.
