Stan James, the world renowned British bookie has been forced to pay a heavy fine by the United Kingdom Gambling Commission. This is the result of an investigation by the UKGC where the operator critically failed on anti-money laundering and social responsibility processes.
This issue arose after a Stan James’ Online customer deposited stolen money on his betting account between November 2014 and October 2016.
The Commission came to the conclusion that Stan James failed to spot the problem gambling behavior and comply with financial requirements aimed at preventing money laundering.
The bookmaker has to pay £40,000 to the person whose money was stolen and the same amount in lieu of a financial penalty.