Reasons for Triplebet’s Suspension revealed by UKGC

The United Kingdom Gambling Commission has published the reasons for the suspension of Triplebet’s license.

On February 17, the operator’s license was suspended as a part of a package of sanctions for social responsibility and money laundering failings.

The investigation that was conducted by the UKGC discovered serious failing in Triplebet’s approach to anti-money laundering. The investigation monitored the business relationships and due diligence checks were performed on of gambling syndicates. Serious failings were also discovered in the operator’s approach to social responsibility.

The Details

For instance, a certain player was able to gamble a large amount of money over the course of two days without any interaction recorded whatsoever. A different player who ed, played and then self-excluded was able to reopen his six months later and then played for 10 hours a day on consecutive days and lost a large sum before self-excluding again, which was not monitored and had no interaction involved.

Representatives from the UKGC say that they have repeatedly made it clear that operators are obligated to put player protection at the top of their activities and that they will not hesitate to use the regulatory powers to protect consumers and the public from the harms of gambling.

“We have repeatedly made it clear that operators must put player protection at the forefront of their activities and ensure that they have effective anti-money laundering processes in place. We will not hesitate to use our regulatory powers, including the suspension and revocation of licences, if we need to do that to protect consumers and the public from gambling-related harm,” Neil McArthur, chief executive of UKGC, said.

McArthur went on to add that any operator that doubts that they are ready and willing to use the full range of their regulatory powers should think again and that all operators need to learn the lesson from this case and their other enforcement cases.

Aside from the license being suspended, Triplebet has to pay a £740,000 fine.

About the UKGC

The Commission was set up under the Gambling Act of 2005 in order to regulate gambling in Great Britain together with licensing authorities. It also regulates the National Lottery.

Additionally, it issues licenses for license holders, gambling premises and heavily promotes responsible gambling.

It operates as an executive non-departmental public body of the Government of the United Kingdom. The main goal of the Commission is to keep crime away from gambling and to protect the end-s. They also consult the government on gambling-related issues.

Source:

“Matchbook owner Triplebet hit with UKGC fine as suspension continues”, Robert Simmons, egr.global, April 8, 2020