.png)
The charges were due to AML breaches and lack of responsible interaction with clients who lost huge sums of money during a short period of time
Casumo has been slapped with a fine of £6m by the UKGC. The penalty was handed out due to historic failings in the company's AML and responsible gaming procedures.
UKGC investigators discovered that the operator had failed to comply with customer care interventions and social responsibilities. This resulted in a Casumo customer losing £1.1m over a period of 3 years with the operator not intervening to this matter.
Further failings to support customers were in two previous incidents where a customer lost £65,000 within a month and another customer £76,000 over a seven-month period. In both incidents there wasn't any form of customer care intervention.
Two other victims have reportedly lost big sums of money in a short period of time: £89,000 in a five hour period and £59,000 in a 90 minute timeframe.
Casumo was further identified as not carrying out responsible gambling when it comes to referencing appropriate Sources of Funds. The operator was further charged with multiple AML failures. The commission stated that the operator had not take seriously the required AML policies and procedures.
Richard Watson, Commission Executive Director, said: “This case was brought about through planned compliance activity and every operator out there should be aware that we will continue to take firm action against those who fail to raise standards.”
Further breaches were identified from an audit conducted between October 2019 and January 2020.
About SiGMA Magazine:
SiGMA Magazine is the ultimate biannual publication shedding light on the gaming industry. The magazine covers five major continents, namely: Europe, Asia, Africa, and the Americas with contributors reigning from all over the world. The publication is distributed to a global audience, with a print run of 10,000, giving readers exclusive content about our vast client base. Due to our global audience SiGMA utilises its in-house translators to translate content in their specific language, depending on the continent. The Magazine is available online via our digital version and is also distributed during SiGMA's annual shows. If you want to be part of our next issue please contact Katy.
