Platinum Gaming Limited
LONDON, SW19 3SE, United Kingdom
What is a settlement?
Following an investigation into a licence holder we may enter into a regulatory settlement. These take place, for example, where the licence holder has been open and transparent with us and has shown a willingness to suggest actions that prevent the need for a more formal sanction.
Decision date: 13 June 2019
Outcomes: Divestment, Payment in lieu of financial penalty, Commission costs and Public statement
Details of action
The Commission carried out an investigation into Platinum Gaming Ltd which identified weaknesses in its anti-money laundering and customer interaction controls.
The investigation found a breach of licence condition 12.1.2.
The investigation also found a failure to comply with:
- Social responsibility code 3.4.1(1)(c)
- Social responsibility code 3.4.1(e)(i) & (ii)
- Ordinary code provision 2.1.1
In line with our Statement of principles for licensing and regulation, Platinum Gaming has agreed to a regulatory settlement consisting of:
- A divestment of the gross gambling yield of £629,420 it received from the gambling of the relevant customer. This money has been returned to the victim identified whose money was stolen.
- A payment in lieu of financial penalty of £990,200 which we will direct to work which accelerates the delivery of the National Strategy to Reduce Gambling Harms.
- Agreement to the Commission’s publication of a statement of facts in the case.
- Payment of £9,800 towards the Commission’s investigative costs.
Agreement to the publication of a statement of facts in relation to this case - with the news story/ public statement being linked off the "a statement of facts".