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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-03-29T18:13:00
The U.K. Gambling Commission announced Tuesday three units of British bookmaking service William Hill Group will pay a record fine of 19.2 million pounds (U.S. $23.7 million) for failures regarding social responsibility and anti-money laundering (AML).
WHG (International) Limited will pay £12.5 million (U.S. $15.4 million), Mr. Green Limited will pay £3.7 million (U.S. $4.6 million), and William Hill Organization Limited will pay £3 million (U.S. $3.7 million). William Hill Group, which was acquired by 888 Holdings in July, operates more than 1,000 gambling premises across the United Kingdom.
Andrew Rhodes, U.K. Gambling Commission chief executive, said the company’s failings “were so widespread and alarming, serious consideration was given to license suspension.” However, since the company recognized its shortcomings and worked with the commission to implement improvements, it was not suspended and instead subjected to the largest enforcement action in the regulator’s history, said Rhodes.
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Membership $599
One-year only, no auto-renewal.
2024-07-30T18:09:00Z By Helen Siegieda, International Compliance Association
Recent events have put a spotlight on the role of the U.K. Gambling Commission, following its investigation into privileged information allegedly being used to bet on the date of the U.K. general election.
2023-02-13T19:21:00Z By Neil Hodge
Barclays Bank is reportedly being investigated by the U.K. Financial Conduct Authority for failures regarding its anti-money laundering procedures and controls.
2023-01-26T19:01:00Z By Aaron Nicodemus
U.K. online gaming company In Touch Games was fined £6.1 million (U.S. $7.6 million) by the country’s Gambling Commission for a series of anti-money laundering failures—its third such penalty since 2019.
2024-12-10T18:35:00Z By Adrianne Appel
A lack of supervision and internal controls at Morgan Stanley Smith Barney allowed four of its investment advisers to steal millions from customers before the behavior was detected, the SEC said in charging the firm.
2024-12-06T17:31:00Z By Aaron Nicodemus
A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice to settle allegations that it bribed officials in South Africa to win consulting contracts.
2024-12-06T12:45:00Z By Jaclyn Jaeger
A defamation lawsuit filed by a whistleblower against USAA, which a Florida judge recently dismissed on a technicality, revealed in public court records an estimated 400,000 violations of the Military Lending Act by USAA Federal Savings Bank (USAA Bank), an indirect wholly owned subsidiary of USAA.
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