Petfre (Gibraltar) Limited
Account number
39544
Head office address
5.2 Waterport Place, 2 Europort Avenue,Gibraltar, GX11 1AA, Gibraltar
Regulatory actions
What is a sanction?
When a licence holder has not followed rules and regulations aimed at ensuring gambling is fair, safe and crime-free, we can take action and impose the following sanctions:
- Give the licensee a warning
- Add, remove, or amend a condition to the licence
- Suspend a licence
- Revoke a licence
- Impose a financial penalty
Decision date: 8 September 2022
Outcomes: Financial penalty and Warning
Details of action
Following a review of the operating licence undertaken against Petfre (Gibraltar) Limited (“the Licensee”), the Commission found that between October 2019 and December 2020 the Licensee:
- breached paragraph 1, 2 and 3 of licence condition 12.1.1 – Anti-Money Laundering (Prevention of money laundering and terrorist financing)
- breached paragraph 1 of licence condition 12.1.2. – Anti-Money Laundering (Measures for operators based in foreign jurisdictions)
- failed to comply with paragraph 1 and 2 of social responsibility code of practice (SRCP) 3.4.1 – Customer Interaction
- failed to act in accordance with ordinary code provision 2.1.1 – Anti-money laundering
In line with the Commission’s Licensing, compliance and enforcement policy statement, the Indicative sanctions guidance and the Statement of principles for determining financial penalties, the Commission has decided to:
- impose a financial penalty of £2,873,750 million under section 121 of the Gambling Act 2005 (the Act)
- impose a warning under section 117(1)(a) of the Act
The Licensee co-operated with the Commission throughout the investigation and took immediate corrective steps to address the identified failings. The Commission’s review of the specific customers identified during the Compliance assessment found no evidence of criminal spend with the Licensee.