UK Gambling Regulator's AML Action Is A Warning To All Cos.

Law360 (March 31, 2020, 4:43 PM EDT) -- On March 12, the U.K. Gambling Commission announced that it will fine online gambling business Betway Limited £11.6 million for failures in respect of its anti-money laundering controls and handling of seven of its VIP high-spending customers.

Beyond its relevance to the online gambling industry, this case clearly illustrates that all companies subject to the U.K. Money Laundering Regulations, including businesses in the finance sector, are required to have up-to-date and sophisticated anti-money laundering systems and controls.

Moreover, many companies in the U.S. that are jumping into the newly legalized sports betting space will find themselves subject to similar requirements under...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!