Platinum Gaming Limited
The UK Gambling Commission fined Platinum Gaming Limited a £2.94 million penalty for failures in anti-money laundering and social responsibility. The regulatory action, dated 13 February 2023, also included a warning and new licence conditions.
Summary
Financial Penalty
£2.9m
What This Means for Consumers
Platinum Gaming Limited is still licensed to operate, but these findings show serious past failures in protecting customers and preventing financial crime. Consumers should be aware of this regulatory history when using their services.
Full Details
On 13 February 2023, the Gambling Commission imposed a financial penalty of £2,937,599 on Platinum Gaming Limited. The action followed a review that found the operator had breached its licence conditions. In addition to the fine, the regulator issued a formal warning and attached new, undisclosed conditions to the company's operating licence.
The Commission's investigation found several compliance failures. These included breaches of rules for preventing money laundering and terrorist financing (Licence Condition 12.1.1) and specific AML measures for foreign-based operators (Licence Condition 12.1.2). The operator also failed to meet social responsibility requirements for customer interaction (SRCP 3.4.1) and didn't comply with rules for identifying individual customers (SRCP 3.9.1).
This isn't the first time Platinum Gaming Limited has faced regulatory action, which is reflected in its low trust score. The UKGC noted that the operator cooperated with this investigation and has taken corrective steps to address the identified failings.
Key Findings
- Financial penalty of £2,937,599
- Action taken on 13 February 2023
- Breaches of anti-money laundering (AML) and social responsibility rules
- A formal warning was also issued and new conditions added to its licence
Timeline
| Action Date | 13 February 2023 |
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