White Hat Gaming Limited
MOSTA, MST 1180, Malta
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: 28 January 2021
Outcomes: Payment in lieu of financial penalty, Commission costs and Public statement
Details of action
The Commission investigated White Hat Gaming’s handling of seven customers’ accounts, following concerns identified at a compliance assessment (referred to as a corporate evaluation) in March 2019.
Our investigation identified failings in the way White Hat Gaming identified and managed customers who were at higher risk of money laundering and problem gambling. These failings stemmed from inadequate anti-money laundering (AML) and safer gambling policies and processes.
White Hat Gaming cooperated with our enquiries throughout the course of the investigation and has accepted that its policies and procedures in respect of AML and safer gambling were not adequate. It has accepted it failed to act in accordance with conditions on its operating licence between October 2016 and March 2019.
The Commission agreed a regulatory settlement with White Hate Gaming consisting of:
- £1,334,053.18 payment in lieu of a financial penalty, which will be directed towards delivering the National Strategy to Reduce Gambling Harms
- Agreement to the publication of a statement of the facts in relation to this case
- Payment of £9818.63 towards the Commission’s costs of investigating the case.
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".