Skill On Net Limited
The UKGC took action against Skill On Net Limited, resulting in a £305,150 payment as part of a regulatory settlement. The action addresses failures in the operator's anti-money laundering and safer gambling procedures.
Summary
Financial Penalty
£305,150
What This Means for Consumers
Skill On Net Limited remains licensed and can continue to operate its gambling websites. This action highlights past compliance issues, but the required audit is designed to ensure its processes are improved.
Full Details
On 23 May 2023, the UK Gambling Commission (UKGC) finalised a regulatory settlement with Skill On Net Limited. The operator agreed to pay £305,150 instead of a formal financial penalty. This action followed a review that found compliance weaknesses between January 2021 and December 2022.
The investigation showed that Skill On Net Limited didn't comply with several key licence conditions. These included rules for preventing money laundering and terrorist financing (Licence Condition 12.1.1) and specific requirements for foreign-based operators (Licence Condition 12.1.2). The operator also didn't meet social responsibility standards for customer interaction (SRCP 3.4.1).
A regulatory settlement is an agreement where an operator accepts the findings and takes agreed-upon action. As part of this settlement, Skill On Net Limited will also have an independent third-party audit of its AML and safer gambling controls. This audit must be completed within 12 months of the review's conclusion.
Key Findings
- Payment of £305,150 in lieu of a financial penalty.
- Failures in anti-money laundering (AML) and safer gambling controls between January 2021 and December 2022.
- Breaches of Licence Conditions 12.1.1 and 12.1.2, and Social Responsibility Code Provision 3.4.1.
- Required to conduct an independent third-party audit within 12 months.
Timeline
| Action Date | 23 May 2023 |
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