Betfred to pay £3.25 million for regulatory failures

For regulatory shortcomings, Betfred will pay £3.25 million. A Commission inquiry revealed social responsibility and anti-money laundering shortcomings, which resulted to the fine. The lack of adequate controls to protect new customers and to keep track of high-velocity spending and play time are among the social responsibility failings Betfred has been found guilty of, putting the customer at risk of significant losses in the absence of safer gambling interactions. It was discovered that Betfred formed the presumption that clients were safe because they were winning gamblers.
 
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