William Hill Fined £6.2m For Social Responsibility Failures
February 20, 2018
William Hill have been made to pay a £6.2m penalty package for “systemic social responsibility and money laundering failures”, the UK Gambling Commission has said.
The breaches date back to November 2014 after an investigation conducted by the UKGC found that William Hill failed to ensure “responsibility processes were effective” at the company.
Ten customers were have found to have laundered money through the gambling firm for criminal offences which resulted in £1.2m worth of profit for William Hill.
“This was a systemic failing at William Hill which went on for nearly two years and today’s penalty package – which could exceed £6.2m – reflects the seriousness of the breaches,” said the Executive Director of the UKGC, Neil McArthur.
“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.”
William Hill will pay £5m for breaching the regulations and £1.2m for the profits they made from the fraudulent transactions.
As as result of the fine, the gambling firm have made the move to appoint external auditors to review its internal procedures regarding its social responsibility failures.
“William Hill has fully co-operated with the commission throughout this process, introducing new and improved policies and increased levels of resourcing. We have also committed to an independent process review and will work to implement any recommendations that emerge from that review,” said Phillip Bowcock, Chief Executive of William Hill.
“We are fully committed to operating a sustainable business that properly identifies risk and better protects customers. We will continue to assist the commission and work with other operators to improve practices in the areas identified.”
The fine is the second biggest the UK Gambling Commission has ever given out following 888’s £7.8m penalty package last year.