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  1. Public register
  2. Regulatory action register
  3. Sanction for Vassallo Matthew Anthony
Sanction

Vassallo Matthew Anthony

Account number:
Decision date:
24 April 2020
Outcomes:
Warning

Details

Following a licence review, the Commission decided to issue Mr Matthew Vassallo with a warning under section 117(1)(a) of the Gambling Act 2005 and impose a condition on the Licensee’s licence under section 117(1)(b) of the Act.

The reason for this decision was because, as a Personal Management Licence holder and money laundering reporting officer responsible for anti-money laundering (AML) at Betit Operations Limited (Betit), Mr Vassallo failed to ensure Betit:

  • complied with the requirement to complete a risk assessment as required by Licence condition 12.1.1 - Anti-money laundering - Prevention of money laundering and terrorist financing
  • had appropriate policies, procedures and controls to prevent money laundering and terrorist financing in breach of licence condition 12.1.1.2 and that such policies, procedures and controls were implemented effectively, kept under review and revised appropriately in breach of licence condition 12.1.1.3
  • put into effect adequate AML controls such that it complied with the Money Laundering Regulations 2007 and 2017 as required by the licence condition attached to the licence on 1 November 2014 and Licence Condition 12.1.2.

In reaching our decision we concluded Mr Vassallo was not solely accountable for the failings which were systemic within the business. Mr Vassallo will also be required to undertake training commensurate with his role.

Mr Vassallo has been open and transparent throughout our engagement with him

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