Genesis Global Limited
Following a review of the operating licence undertaken against Genesis Global Limited (“the Licensee”), the Commission found that 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 licence condition 12.1.2. – Anti-Money Laundering (Measures for operators based in foreign jurisdictions)
- failed to comply with social responsibility code of practice (SRCP) 3.4.1 – Customer Interaction
- failed to comply with SRCP 3.9.1 – Identification of individual customers
- 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 warning under section 117(1)(a) of the Gambling Act 2005 (the Act)
- attach additional conditions to the Licensee’s operating licence under section 117(1)(b) of the Act
- impose a financial penalty of £3,769,920 under section 121 of the Act.
The Licensee co-operated with the Commission throughout the investigation and took corrective steps to address the identified failings.