UKGC fines TGP Europe over £315k
TGP Europe is responsible for operating nearly 20 separate gambling websites through numerous white-label contracts. This list includes several popular gambling brands and sites such as stake.uk.com.
Through an investigation, the gambling regulator found that the operator had a number of shortcomings in terms of its social responsibility and AML efforts. The former failures included letting users continue playing after receiving safer gambling alerts, sending out inadequate automated messaging to potentially at-risk players, and not assessing the quality of those interactions.
On the other hand, the company’s AML failures originated from lacking risk assessment procedures that would address common potential threats, such as stolen or fake IDs and large or frequent transactions. The UKGC also mentioned a couple of other points that drove it to impose the fine, such as the company’s lacking consideration of AML risks associated with B2B collaborations, especially as TGP Europe’s main business model involves numerous white label contracts.
Lastly, the regulator also added additional conditions on the operator’s license which will define the ways the firm will have to conduct various checks in order to ensure their effectiveness and quality.
This enforcement action follows just over a week after one of the gambling commission’s largest-ever penalties, as part of which the regulator fined William Hill nearly 20 million Pounds and even considered revoking its license due to the severity of the discovered failures. Learn more about it here.