LONDON – The U.K. Gambling Commission has announced that NetBet Enterprises Limited, operator of netbet.co.uk, will pay £650,000 and undergo an independent audit after an investigation revealed failures in anti-money laundering (AML) and social responsibility practices. The full settlement amount will be directed to socially responsible causes.
Key Findings – Anti-Money Laundering
- Over-reliance on financial triggers, allowing customers to spend disproportionate amounts compared to their net income.
- Instances of significant gambling activity where concerning behaviors were present, yet customers were still classified as low risk.
- Risk assessments failed to address critical areas, including third-party business relationships, high-stakes gambling, and controls for third-country nationals residing in the U.K.
Key Findings – Social Responsibility
- Ineffective customer interaction systems, increasing the risk of gambling-related harm.
- Indicators of harm—such as overnight play, rapid deposits, exhausted limits, and escalated gameplay—were not identified promptly and often only flagged during manual reviews.
- Submission of inaccurate information in regulatory returns.
Enforcement Action
John Pierce, Commission Director of Enforcement, emphasized the seriousness of the case:
“This case highlights the serious consequences of failing to meet anti-money laundering and social responsibility obligations. We expect all operators to take note and ensure their systems are not only well-designed but are working effectively to protect consumers and to keep crime out of gambling.”
The operator has been instructed to take immediate corrective action, including:
- Strengthening risk assessments
- Improving identification and response to harm indicators
- Ensuring accuracy in regulatory reporting
In addition to the financial penalty, NetBet must commission an independent audit of its policies, procedures, and controls to confirm that improvements are properly embedded and remain effective.
“Our focus is on ensuring operators meet the standards we expect, and where they fall short, we will intervene,” Pierce added.
