Sunday, 12 April 2020

UK Gambling Commission Reveals Reasons For Triplebet Suspension

Matchbook Homepage

The UK Gambling Commission has revealed its reasons for suspending Triplebet’s operating license.

The UK regulatory firm published this week the reasons for its suspension of Triplebet’s license, citing social responsibility and money laundering failings. Other reasons have also been published and all conditions have led the Commission to impose a £739,099 fine on Triplebet, which operates as Matchbook.

Triplebet’s license was suspended in February following an investigation into the operator by the Commission. The regulatory body found several failings regarding Triplebet’s approach to anti-money laundering, the monitoring of business relationships, as well as failures regarding their social responsibility requirements.

In one case, the Commission found that a player was allowed to gamble a huge sum of money within two days with no interaction from Triplebet. Another player was allowed to play and then self-exclude before re-opening their account six months later to play for 10 hours a day consecutively and losing a large sum. The player then self-excluded themselves again. There was no interaction or monitoring between the player and Triplebet during this time.

As a result of the failures, Triplebet will be required to pay the fine and will have its operating license suspended until it proves to the Commission that it has addressed the issues and successfully adheres to the Commission’s licensing conditions regarding anti-money laundering and social responsibility.

What They Say

Neil McArthur, the Gambling Commission’s Chief Executive, said in a statement: “We have repeatedly made it clear that operators must put player protection at the forefront of their activities and ensure that they have effective anti-money laundering processes in place.

“We will not hesitate to use our regulatory powers, including the suspension and revocation of licenses, if we need to do that to protect consumers and the public from gambling-related harm. Any operator that doubted that we were ready and willing to use the full range of our regulatory powers should think again. All operators need to learn the lessons from this case and our other enforcement cases.”

The news comes just days after the UK Gambling Commission suspended an additional two operating licenses. As we reported earlier this week, the Commission suspended the license of Dynamic, which operates as Prophet, and Sportito for failing to integrate Gamstop services despite it being a requirement by the Commission since April 1st.

Although Sportito’s license has resumed after integrating with the service, Dynamic is still currently suspended and will be until it completely complies with the Commission’s licensing requirements. Then, only when the Commission is satisfied with the operator, will it lift the ban.