In August 2017, 888 Holdings was fined almost \u00a38 million for \u2013 among other infractions \u2013 allowing 7,000 self-excluded gamblers to retain access to their accounts. (Image: AFP)<\/figcaption><\/figure>\nThis week, the regulator published its new Enforcement Report, which details investigations and sanctions to provide guidance for operators on how to avoid them. Infractions included deficient anti-money laundering (AML) procedures, advertising and marketing violations, and failures to protect problem or self-excluded gamblers.<\/strong><\/p>\nTaking Stock<\/h2>\n
Among the fines doled out by the regulator was a record \u00a37.8 million ($10.2 million) to 888 Holdings, for \u201coutrageous failings” in allowing over 7,000 people who had previously voluntarily banned themselves from the site’s key online gaming divisions to access its internet bingo platforms. Although attributed to a technical glitch, it ultimately cost these customers $4.6 million in the course of just over a year.<\/p>\n
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Meanwhile, one 888 customer was permitted to make 850,000 bets totaling \u00a31.3 million ($1.7 million) in embezzled funds stolen from his employer. The UK Gambling Commission\u00a0cited “lack of interaction with the customer, given the frequency, duration, and sums of money involved in the gambling” as indication of a lack of regard for preventing problem gambling.<\/span><\/p>\n<\/div>\n888\u2019s shares plunged on the London Stock Exchange on the news that the online gambling giant was under investigation, over fears that its license would be revoked.<\/p>\n