Jumpman Gaming and Progress Play Were Fined a Total of £675,000
The UKGC continues to streamline the gambling industry. This is after it slapped Jumpman Gaming and Progress Play a total of £675,000 for social responsibility and anti-money laundering regulation failings.
Progress Play’s Failings
Progress Play Limited operates a total of 201 websites reviewed by the UKGC started in August 2020. Investigations by the gambling watchdog found that the iGaming operator failed to implement money laundering regulations. The operator was also faulted for failing to protect vulnerable groups.
A case in point was when players could continue gambling for up to two weeks after they were requested to furnish the operator with the source of funds. The UKGC also faulted the company for failing to perform affordability checks on individuals who triggered problem gambling warnings.
For these failings, Progress Play will now have to pay £175,718 as a fine. In addition to the fine, the iGaming operator will also cover £12,466, which is the cost of the UKGC investigation.
Jumpman Gaming Deficiencies
The iGaming operator is responsible for 243 websites in the gambling industry. The UKGC flagged several issues similar to Progress Play. These are responsible gambling and anti-money laundering failings. One of the major issues was allowing players to deposit and lose massive sums of money before finally conducting affordability checks.
The reviews of Jumpman Gaming’s websites started in September 2020. This was after several concerns flared up in July 2020 following a compliance test. The UKGC found Jumpman Gaming’s processes to be inadequate when it came to protecting vulnerable individuals and preventing money laundering.
Jumpman Gaming admitted to the failures and will now have to pay £500,000 as a fine. In addition to this amount, it will also have to cover £13,594, which is the cost of the investigation.
UKGC Committed to Enforcing Industry Standards
The UKGC director of enforcement and intelligence commented on the regulator’s move to crack the whip on the two operators. Leanne Oxley said that the commission remains steadfast in ensuring all operators comply with industry regulations. Failure to do so will result in sanctions.
Oxley finalized by stating that the UKGC will continue to encourage all operators to look inward and identify their deficiencies while also improving their compliance.
Still, within compliance matters, the UKGC introduced new rules in April around identifying at-risk players. The Commission stated that operators have shown that they failed to identify this group of players on numerous occasions. It also noted that they failed to take remedial action and hence the new measures.
The UKGC chief executive said that the new rules will ensure the expectations are crystal clear. Andrew Rhodes also noted that the regulator will have no mercy on operators that fail to meet the set standards.
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