MT SecureTrade Limited
The Commission carried out an investigation into MT SecureTrade Limited, which identified weaknesses in its anti-money laundering and customer interaction controls.
The investigation found breaches of:
- Licence condition 22.214.171.124
- Licence condition 126.96.36.199 and 188.8.131.52
- Licence condition 12.1.2
- Licence condition 15.2.1
The investigation also found a failure to comply with:
- Social responsibility code 3.4.1
- Ordinary code 3.4.2
In line with our Statement of principles for licensing and regulation, MT SecureTrade has agreed a regulatory settlement consisting of:
- A payment in lieu of a financial penalty of £592,333 which will go to National Responsible Gambling Strategy project(s) to pay for research and treatment,
- Divestment of:
- £73,667 to Customer A
- £34,000 for the benefit of Customer C’s victims
- A voluntary placing of additional conditions on MT SecureTrade’s operating licence under section 117(1)(b) of the Gambling Act 2005,
- Agree to the publication of a statement of facts by the Commission, and
- Payment of £15,301 towards our investigative costs.
For more information, please see the Commission’s public statement, which can be found on our website.