TGP Europe Limited
The UK Gambling Commission fined TGP Europe Limited £316,250 in February 2023 for failures in anti-money laundering and social responsibility rules. The regulator also issued a warning and added new conditions to the company's licence. This action addressed several breaches of the operator's licence conditions.
Summary
Financial Penalty
£316,250
What This Means for Consumers
While this action addressed past compliance failures, it's important for consumers to know that TGP Europe Limited has since surrendered its UKGC licence. This means it's no longer authorised to offer gambling services in Great Britain.
Full Details
On 22 February 2023, the Gambling Commission announced a Financial Penalty against TGP Europe Limited. The operator was ordered to pay £316,250 for breaching rules designed to prevent money laundering and protect customers. In addition to the fine, the regulator issued a formal warning and attached new conditions to the company's operating licence to ensure future compliance.
The investigation found that TGP Europe Limited had breached several key requirements. These included rules for preventing money laundering and terrorist financing (Licence Condition 12.1.1) and specific anti-money laundering measures for foreign-based operators (Licence Condition 12.1.2). The company also didn't comply with social responsibility code provisions for customer interaction (SRCP 3.4.1). The Commission noted that the operator cooperated with the investigation and took corrective steps.
Key Findings
- Financial penalty of £316,250
- Action taken on 22 February 2023
- Breaches of anti-money laundering (AML) and social responsibility rules
- A formal warning was issued and additional conditions were attached to the licence
Timeline
| Action Date | 22 February 2023 |
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