The operator of gaming brand SBOTOP in the Isle of Man has been hit with a £3.9m penalty by the gambling regulator.
The Isle of Man Gambling Supervision Commission said a “significant number of material contraventions” of the Isle of Man’s gambling regulations were uncovered after a probe into Celton Manx.
The anti-money laundering (AML) and counter-terrorism financing (CFT) investigation, which began in October 2024, found that Celton Manx did not provide evidence that it carried out an AML and CFT risk assessment.
The company did not conduct enhanced due diligence despite a cohort of customers being identified as posing a higher money-laundering and terrorist financing risk, the Commission added.
Celton Manx “did not establish, record, maintain or operate appropriate procedures and controls sufficiently to ensure the verification of identity of its customers,” the regulator said, adding that Celton Manx “was unable to demonstrate that its procedures set out requirements for action to be taken when suspicious activity was identified.”
The £3.9m penalty was dropped by 30 per cent from an original sum of £5.6m due to the contraventions being admitted and the co-operation of key figures at Celton Manx.
