Online gambling operator to pay £360,000 for social responsibility and AML failures

Gibraltar based gaming company, Maple International Ventures Limited, is to pay £360,000 following a UK Gambling Commission investigation that uncovered significant social responsibility and anti-money laundering failings.

Maple is the company behind Lottomart.com

The payment forms part of a regulatory settlement with the Commission, and the full amount will be directed to socially responsible causes.

The investigation found that Maple International Ventures had failed to adequately identify and manage risks associated with money laundering and had insufficient measures in place to protect vulnerable customers.

The regulatory settlement consists of:

• a payment in lieu of a financial penalty of £360,000, which includes a divestment of £50,000. The money will be directed to socially responsible purposes
• agreement to the publication of a statement of facts in relation to this case
• payment towards the Commission’s costs of investigating the case.

The Commission has encouraged all gambling operators to review the Maple International Ventures public statement to ensure their own policies and procedures are not only fit for purpose but effectively enforced.