UKGC fines Corbett Bookmakers Limited $890,000

• UKGC issues $890,000 penalty to land-based business in the UK
• The company is said to have failed in AML and social responsibility
• The regulator expects Corbett Bookmakers Ltd to apply all recommendations

The United Kingdom Gambling Commission (UKGC) has gone after land-based bookmaker and gambling operator Corbett Bookmakers Limited in its latest enforcement action shared on the regulator’s website.

UKGC hits land-based business in the UK with a hefty penalty

The UKGC, as the watchdog is known for short, has outlined various transgressions committed to the part of the sanctioned business, which landed it a £686,070 fine, roughly $890,000, following the establishment of anti-money laundering and social responsibility failures.

The penalty is also one of the highest to have been issued to a land-based business, with most of these enforcement actions of late targeting online businesses for the most part.

Corbett Bookmakers Limited operates 36 venues and has agreed to comply with remedial measures in a bid to signal the regulator its preparedness to uphold the highest industry standards and thus avoid future missteps.

Part of this process will involve the hiring of a third-party audit that will help the business steer towards a higher standard of care for players as well as safer AML practices. The UKGC, in the meantime, has outlined some of the transgressions registered by the business.

In one case, a player who staked £23,674 within 13 days was not properly vetted for markers of gambling harm. Another case concerned a consumer who placed 56 bets and lost a total of £3,523 in four hours, with the regulator finding this to be another example of social responsibility failure.

Yet another case concerned a player who bet £47,416 and lost £6,741 in 10 weeks, but was once again not vetted by the business, the UKGC stipulated in its official statement detailing the case. Commenting on the case, Commission Director of Enforcement John Pierce said that the business failed to uphold essential pieces of regulation.

AML and social responsibility failures ought to be taken seriously

"As a result, it will not only pay a significant fine but also undergo a rigorous audit to ensure full compliance with anti-money laundering and safer gambling measures," Pierce said.

When it comes to AML failures, the regulator said that the business did not intervene in a case involving a player who wagered£47,000 and lost£14,000 within eight months, with the company not verifying the source of money.

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