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Following an investigation by the Gambling Commission, Stan James Online will pay a penalty package of £80,000 and take steps to improve its anti-money laundering and social responsibility processes.

The case concerned a customer who deposited stolen money with Stan James Online between November 2014 and October 2016. Commission enquiries revealed that during this time the operator failed to spot problem gambling behaviour and failed to comply with financial requirements aimed at preventing money laundering.

Stan James Online will return £40,000 to the person whose money was stolen and gambled away. Stan James Online will also pay £40,000 in lieu of a financial penalty.

All operators are advised to read Stan James Online: Regulatory Settlement for further details and lessons to be learned. 

Notes to editors 

  1. More information about how we regulate the gambling industry.
  2. Useful statistics on the gambling industry
  3. Our approach to enforcement.

 

Journalists can contact our press office on 0121 230 6700 or email: communications@gamblingcommission.gov.uk

Posted on 30 October 2017