The Gambling Commission have fined bookmaker William Hill more than £6 million after it found that the company had "failed to mitigate risks and have sufficient numbers of staff to ensure their anti-money-laundering and social responsibility processes were effective".
In an investigation covering the period between November 2014 and August 2016, the government body found several failings in the company’s controls, including allowing one customer to deposit approximately £541,000 in just over a year as they believed that he was earning £365,000 a year, when in reality, he was earning £30,000 and stealing from his employer to fund his gambling addiction.
William Hill have been ordered to pay more than £5 million for breaching regulations, and repay a further £1.2 million made in transactions with ten customers that were linked to criminal offences, and will now be required to bring in external auditors to ensure that the firms anti-money laundering and social responsibility policies are effective and being implemented appropriately.
This penalty package is the second largest in the history of The Gambling Commission, following the penalties imposed on gambling firm 888 last year, and the regulators Executive Director Tim Miller claimed that The Gambling Commission was sending a message to the entire industry, stating:
"you need to take your responsibility seriously, you need to get this right. We are always taking regulatory action and I don't think this will be the last action we take"