QuinnBet (Gibraltar) Limited has reached a settlement of £609,104 ($830,501) with the UK Gambling Commission following an investigation that revealed significant deficiencies in its anti-money laundering (AML) and social responsibility controls. This agreement was finalized on Thursday as part of a compliance review of QuinnBet’s remote gambling license, which spans from March 2023 to August 2025.
The settlement includes a disgorgement payment of £193,118 alongside contributions to the Gambling Commission's investigation costs. Notably, all proceeds from the settlement will be allocated to the UK government’s Consolidated Fund, which supports various public services and governmental operations.
During its investigation, the regulator discovered multiple failures related to anti-money laundering processes at QuinnBet. Specifically, the company was criticized for "insufficient controls" that prevented timely identification of customers showing significant spending patterns. For instance, one individual with monthly payslips of around £2,000 went on to deposit and lose £9,000 within just four days. Another customer deposited approximately £120,000 and withdrew £111,000 over the span of fewer than three months without the source of these funds being properly verified.
Additionally, the review pointed out delays in submitting Suspicious Activity Reports (SARs) and errors following a platform migration, which inadvertently allowed 194 customers to exceed their deposit limits. Consequently, QuinnBet was found in violation of Licence Condition 12.1.1, which mandates effective AML policies, as well as Social Responsibility Code Provisions (SRCP) related to the timely assessment of customer behavior indicative of potential harm.
On the social responsibility front, the Gambling Commission noted that QuinnBet's methods for recognizing and addressing gambling-related harm were inadequate, relying too heavily on manual intervention and responding slowly to potential issues. One alarming case involved a player who placed around 4,800 bets in a single day and 7,000 the following day without triggering any alerts. Furthermore, another customer staked more than £215,000 in just one day after a significant win, with none of the activity flagged until the next morning.
The Commission observed that QuinnBet’s manual approach to lower deposit limits for customers aged 18-24 sometimes allowed younger players to exceed their limits significantly, leading to one young customer depositing eight times their monthly limit and losing it all within one day.
John Pierce, the Director of Enforcement at the Gambling Commission, stressed the importance of cases like this, which underscore the significant risks associated with inadequate systems and controls that fail to quickly detect financial crime and signs of harm. He stated, "We expect operators to ensure their safeguards are effective in practice to protect consumers and keep crime out of gambling."
Pierce noted that QuinnBet has acknowledged its shortcomings and has taken steps to enhance both its AML policies and processes for identifying harm. The Commission recognized QuinnBet's cooperation during the investigation, including the voluntary reporting of certain issues and prompt development of a remedial action plan. However, they also indicated that previous warnings to other operators about similar issues were aggravating factors in this case.
Operator-side challenges regarding AML have been a focal point for the Gambling Commission recently. Their risk assessment report highlighted that failures at the operator level significantly contribute to money laundering and counter-terrorist financing risks across the UK's licensed gambling sector. Many operators were found lacking in their AML policies and training.
This week, Holland Park Leisure Limited, an adult gaming center operator, was also fined for not participating in the required multi-operator self-exclusion scheme, further illustrating ongoing regulatory scrutiny in the industry.
