Gambling operator Star Racing Limited will pay a £594,000 penalty for anti-money laundering and social responsibility failures.
The operator–trading as Star Sports–will also receive an official warning and have conditions added to its licence, reports the UK’s regulatory Gambling Commission.
Anti-money laundering failures included having ineffective policies, procedures and controls in place at the time of the compliance assessment; allowing customers to deposit large amounts, before obtaining source-of-funds information, and failing to analyse source-of-funds information when it was obtained.
Social responsibility failures included not demonstrating an understanding of the impact and effectiveness of customer interactions in terms of the minimisation of customer risk.
The failings occurred between March 2020 and May 2021.
Read Star Racing Limited full penalty.
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