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  1. Public register
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  3. Sanction for Petfre (Gibraltar) Limited
Sanction

Petfre (Gibraltar) Limited

Account number:
39544
Decision date:
8 September 2022
Outcomes:
Financial penalty and Warning

Details

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.

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