TonyBet has been ordered to pay a £442,750 penalty and been warned by the UK Gambling Commission for failings including on anti-money laundering.
The company, which operates as tonybet.co.uk in the UK, was also found not to have sufficiently fair and transparent terms and for failing to follow social responsibility guidance.
The UKGC said unfair terms published on TonyBet’s website included that the operator may request ID for “all withdrawals” while not having insisted on those same checks earlier in the business relationship, therefore potentially hampering withdrawals but not deposits.
Meanwhile, its AML failures included failing to conduct adequate risk assessments of the business being used for money laundering and terrorist financing.
Kay Roberts, executive director of operations at the UKGC, said the fine “highlights action we will take against gambling businesses who fail to be fair and open with customers.”
