William Hill pays £6.2 million fine following money laundering breaches

20 Feb 2018

william hill fineThe UK Gambling Commission has imposed a bitter fine of £6.2 million to William Hill for money laundering breaches. According to the Commission’s report, the bookmaker accepted a huge money deposit linked to crime, without having checked the source of those depositors beforehand.

One of the most notable cases was a customer who paid William Hill £650,000 over 18 months. In another one, the bookmaker accepted deposits of £541,000 over 14 months and £365,000 for 12 months while the depositor had a £30,000 annual salary.

All these cases, occurred between November 2014 and August 2016, the checking procedure was seamlessly avoided by the operators’ anti fraud department. In other words, the breaches were not a result of “system failure” but due to human omission.

Senior management at William Hill failed to mitigate risks and have sufficient numbers of staff to ensure their anti-money laundering and social responsibility processes were effective”, the Commission reported.

According to Neil McArthur, Gambling Commission's executive director: “This was a systemic failing at William Hill which went on for nearly two years and today’s penalty package reflects the seriousness of the breaches. Gambling businesses have a responsibility to ensure that they keep crime out of gambling and tackle problem gambling – and as part of that they must be constantly curious about where the money they are taking is coming from”.

The penalty of £6.2 million covers both the total amount deposited by the players and the company’s profit.

The bookmaker conformed to the Commission’s suggestions introducing “new and improved policies and increased levels of resourcing”, as Philip Bowcock, Chief executive of William Hill claimed.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

Kaizen Gaming’s online bookmaker Betano has finalised a deal with the Romanian Football Federation, which allows it to become the naming partner...

Read more »

The online sportsbook Vbet has extended the partnership with AS Monaco for three more years until 2025. The deal, which began in 2020, will allow the ...

Read more »

The Ministry of Culture and Gender Equality in Norway has begun consultations to introduce a new Gambling Act to replace the Lottery Act, the Totaliza...

Read more »

The online gaming giant Entain, the owner of brands like Interwetten, has won the Advanced Safer Gambling Standard award by GamCare for providing play...

Read more »

One of the pioneers of online betting, Interwetten, has signed a new regional long-term sponsorship deal with English football giants Liverpool FC. Fa...

Read more »

The global online sportsbook 1xBet recently paid out some big winnings. A bettor from Yaounde, Cameroon, signed up with the bookie and placed a 12 eve...

Read more »

The international online sportsbook NetBet has added Apple Pay as a payment option for French players giving locals another top-notch method for depos...

Read more »

The online gambling operator Kindred Group, which incorporates several brands like Unibet, has announced that it will further contribute to the mental...

Read more »

The Treasury of Kenya has published the 2022 Finance Bill, which re-introduces the controversial 20% tax rate on wagering stakes. Despite the protests...

Read more »

The international gaming operator Vbet has joined the International Betting Integrity Association (IBIA), adding to the platform’s global integr...

Read more »

LATEST BOOKMAKER PROMOTIONS