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Gambling Commission fines Skill On Net £305.1k
Skill On Net has recently been issued a penalty of just over 305 thousand pounds by the UKGC.
The regulator’s latest enforcement action followed an in-depth investigation of the company’s operating subsidiaries, which found several shortcomings in the areas of responsible gambling and AML. The report uncovered that Skill On Net’s failures took place in the period between 2021’s January and 2022’s December.
In terms of AML failures, the investigation found that the operator’s AML and TF (terrorist financing) procedures were not up to par with the commission’s requirements. The company did not adequately analyze and consider the risks posed by organized crime and transactions received from undisclosed third parties.
Skill On Net also allowed several players to gamble with and lose over 4 thousand pounds, over two times higher than its 2 thousand pound limit that aims to mitigate risks posed by unverified transactions.
In terms of player protection failures, the operator failed to have adequate systems implemented to take the users’ financial situation into account to determine a level of unhealthy spending. The UKGC added that the company used unverified comments from its players to determine a disproportionate gambling amount instead.
This announcement follows the commission’s previous enforcement action, which took place about one and a half months ago and involved a fine of similar proportions for TGP Europe. Read more about the previous penalty here.