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  1. Public register
  2. Regulatory action register
  3. Settlement for Platinum Gaming Limited
Settlement

Platinum Gaming Limited

Account number:
Decision date:
13 June 2019
Outcomes:
Divestment, Payment in lieu of financial penalty, Commission costs and Public statement

Details

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.

For more information, please see the Commission’s public statement which can be found on our website.

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