UK Charges British Sportsbook for Anti-Money Laundering Violations
The U.K. Gambling Commission last week charged British sportsbook Bet365 over $729,000 for "anti-money laundering and social responsibility failures." The commission said the anti-money laundering violations included "failing to undertake financial sanctions checks on new customers prior to their first…
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deposits" and "failing to undertake independent verification checks and [over-reliance] on customers' annual self-verification of know your customer information, such as identification documents."