bet9ja.com
Paddy Power Betfair fined after taken money is gambled through its site
bit.ly
16 October 2018
bet9ja.com
Paddy Power Betfair has been fined ₤ 2.2 m for failing to stop stolen money being bet through its site and for failing to secure customers revealing indications of problem betting.
bit.ly
The Gambling Commission stated the bookie's failings implied "significant amounts of taken cash streamed through their exchange".
One consumer used cash defrauded from his company, Birmingham Dogs Home.
Paddy Power Betfair apologised and stated it had actually strengthened its procedures.
The regulator said Paddy Power Betfair's behaviour was just not acceptable.
bet9ja.com
A Gambling Commission examination, external also found that the yohaig code bookmaker failed to effectively connect with clients who were displaying signs of problem gambling.
"These failings all come from one simple concept - operators need to know their customer," stated Richard Watson, Gambling Commission executive director.
"If they understand their consumer and ask the right concerns then they place themselves in a strong position to fulfill their anti-money laundering and social duty commitments."
'Very sorry'
As part of the settlement, Paddy Power Betfair will make a ₤ 1.7 m payment to GambleAware, the yohaig code independent charity that commissions research study, education and treatment services to harm in the UK.
Paddy Power Betfair president Peter Jackson stated: "We have an obligation to intervene when our customers show indications of problem betting. In these 5 cases our interventions were not efficient and we are very sorry that this promotion code took place.
"Recently, we have actually bought a substantial programme of work to enhance our resources and systems in responsible gaming and customer security. We are encouraged that the Gambling Commission has actually identified significant improvement considering that the time of these cases in 2016."
The commission's inquiry centred on five clients in 2016, including 2 who were enabled to gamble taken cash - among whom had defrauded his employer, Birmingham Dogs Home.
Simon Price, who was president of the pets home, and his spouse Alayna confessed cheating the charity of ₤ 894,754 to money his gambling addiction.
Mr Price was imprisoned for five years at the end of 2017, while Mrs Price was given a two-year suspended term.
bet9ja.com
As part of Paddy Power's settlement with the Gambling Commission, the cash will be gone back to the yohaig code canines home.
Shares in Paddy Power Betfair rose 3.4% in late trading in London.
William Hill fined for lax criminal controls
20 February 2018
bet9ja.com
1
Paddy Power Betfair Fined after Stolen Cash is Gambled through Its Website
marcgoulet4528 edited this page 2025-10-19 10:11:32 +02:00