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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-01-26T19:01:00
A U.K. online gaming company was fined 6.1 million pounds (U.S. $7.6 million) by the country’s Gambling Commission for a series of anti-money laundering (AML) failures.
In Touch Games, which operates 11 gambling websites, was not adequately assessing the AML risks posed by gambling customers who live in high-risk jurisdictions, are politically exposed persons, or are linked to PEPs, among other risk factors, the commission said Wednesday in a press release.
In Touch also did not conduct adequate due diligence on the source of income of customers who lost £10,000 (U.S. $12,400) over a 12-month period, according to the agency.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2023-03-29T18:13:00Z By Jeff Dale
The U.K. Gambling Commission announced three units of British bookmaking service William Hill Group will pay a record fine of £19.2 million (U.S. $23.7 million) for failures regarding social responsibility and anti-money laundering.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
2024-07-24T17:19:00Z By Adrianne Appel
Prysmian Cables and Systems USA agreed to pay $920,000 to settle allegations it falsified tests and compliance certifications concerning cable it sold to the U.S. military for use in vehicles, the Department of Justice said.
2024-07-23T14:07:00Z By Adrianne Appel
The Federal Communications Commission is preparing to take enforcement action against AT&T for a data outage in February that blocked 92 million phone calls.
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