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  3. Sanction for TGP Europe Limited
Sanction

TGP Europe Limited

Account number:
38898
Decision date:
22 February 2023
Outcomes:
Conditions attached to the licence, Financial penalty and Warning

Details

Following reviews of the operating licence undertaken against TGP Europe Limited (the Licensee), the Gambling Commission (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 adhere to Ordinary code provision (OCP) 2.1.1- Anti-Money Laundering guidance

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:

  1. impose a warning under section 117 (1) (a) of the Gambling Act 2005 (the Act)
  2. attach additional conditions to the Licensee’s operating licence under section 117(1)(b) of the Act
  3. impose a financial penalty of £316,250 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.

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