Star Racing Ltd. receives a hefty penalty from the GC. Ladbrokes grapples with ASA criticism over ads targeting minors. In the meantime, Tipster suffers the revocation of their license by the MGA due to its business shutting down. The Danish regulator takes action against Betfair for violating anti-money laundering laws. And Zimpler incurs fines for engaging in unlicensed transactions in Sweden.

Star Racing Ltd. slapped with a significant fine by GC

Star Racing Limited has found itself at the receiving end of a hefty penalty from the GB Gambling Commission due to a string of deficiencies unearthed in their anti-money laundering (AML) protocols and social responsibility endeavors. Under the trading name Star Sports, the company will be required to pay a penalty of €693,376. Additionally, it has received an official notification and had extra requirements appended to its license.

Delving into the specifics of the accusations, the Commission meticulously elucidated a multitude of transgressions that unfolded between March 2020 and May 2021. Regarding their anti-money laundering endeavors, Star Racing Limited exhibited a woefully inadequate framework comprising feeble policies, procedures, and controls. The company allowed clients to send solid sums of money to their accounts without first acquiring the necessary source of funds information. 

Concerning social responsibility failures, the company demonstrated an inferior understanding of the impact and effectiveness of its customer interactions in terms of mitigating risks.

Ladbrokes faces ASA backlash for Under-18 targeted ads

Once more, the Advertising Standards Authority (ASA) has taken action by pulling Ladbrokes advertisements due to their alleged targeting of individuals under the age of 18. The adverts in question consisted of two promoted tweets showcasing prominent Premier League managers, which were found to possess an allure specifically designed to captivate young audiences. This occurrence signifies the second instance within this month that Ladbrokes' tweets have been removed due to their perceived targeting of individuals below the age of 18. 

Ladbrokes defended the first message as celebratory content without promotional elements or links. However, the second tweet, featuring multiple managers, was admitted as a mistake. Ladbrokes implemented age restrictions and targeted the ads to over 25-year-olds. Despite its defense, the ASA ruled against Ladbrokes, stating the ads were irresponsible and violated regulations.

Tipster's license revoked by MGA after business closure

Tipster Limited's license has been suspended by the Malta Gaming Authority (MGA) due to the closure of its operations. This suspension, which took effect on June 27, prohibits Tipster from engaging in any gambling activities under the MGA license.

Nevertheless, Tipster is obligated to preserve user accounts and grant access to them. Moreover, in strict compliance with pertinent legal provisions, it is bound to initiate the process of refunding all outstanding funds owed to its customers.

The verdict to suspend Tipster's license aligns seamlessly with the provisions outlined in Malta's Gaming Compliance and Enforcement Regulations. Nevertheless, it is worth mentioning that this ruling may be subject to an appeal.

Danish regulator issues AML breach orders to Betfair

Flutter Entertainment-owned Betfair International has received explicit instructions from Denmark's Spillemyndigheden to promptly address and rectify regulatory infractions pertaining to anti-money laundering (AML) legislation. The breaches involve risk examination, business processes, and controls under Sections 7(1), 8(1), and 10(1)(1) of the AML Act. 

Betfair's failure to evaluate inherent risks, inadequate customer due diligence efforts, and insufficient control descriptions were highlighted. The regulator's orders (Order A, Order B, and Order C) necessitate the company’s compliance, including updated documentation on the mentioned processes. 

Betfair has three months to address Order A and Order B, and 12 months to submit compliance documentation for Order C. Spillemyndigheden also criticized Betfair's past business procedures but stated that no action is required since the breach has been resolved.

Zimpler faces fines for unlicensed transactions in Sweden

Spelinspektionen, which is a Swedish gambling watchdog, warns Zimpler, a payment provider, of heavy fines if it continues transactions with unlicensed operators. In a stringent ultimatum, the operator is mandated to cease the provision of payment services utilizing BankID to unlicensed operators before 31 July. Failure to comply with this directive will result in a substantial fine of SEK 25.0 million (€2.1 million).

Spelinspektionen aims to channel gambling to responsible operators, requiring licenses for all market participants. While firmly refuting any allegations of law infringement, Zimpler remains steadfast in its commitment to sever ties with unlicensed websites catering to Swedish customers. The country’s supervisory body alleges Zimpler facilitates the unlawful targeting of local gamblers by collaborating with unlicensed operators.

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