The UK Gambling Commission has released the final results of an internal investigation into money laundering and gambling harm cases. Land-based casinos will have to pay a £450,000 fine, which will be part of a regulatory settlement. In the case of money laundering cases reviewed by the British Gambling Commission, VGC Leeds Limited, or Global Gaming Ventures, was targeted. As a result of the investigation, casinos will pay fines.
Further details were published in a public statement on the committee's website. The main cause of this incident was that there was a high risk of money laundering and gambling damage to users. The regulator has said the punishment for these failures is part of the road to higher standards in the gambling industry.
Helen Venn, Executive Director of the Commission, also warned all operators of the mandatory actions to be taken if they fail to comply with rules, restrictions and requirements. She asked gambling operators to pay more attention to measures for protective gambling.
The Commission's main objective is to ensure safe gambling spaces for citizens of fully regulated and controlled countries.