QuinnBet (Gibraltar) Limited has reached a regulatory settlement totaling £609,104 ($830,501) with the UK Gambling Commission after significant deficiencies were revealed in its anti-money laundering (AML) and social responsibility measures.
This agreement, finalized on Thursday, concluded a comprehensive compliance review of QuinnBet's remote gambling license that spanned from March 2023 to August 2025.
The settlement includes a disgorgement payment of £193,118 along with contributions covering the Gambling Commission's investigation costs. The funds will be channeled directly into the UK government’s Consolidated Fund, which typically supports public expenditure, including essential services and operational costs for government departments.
During the investigation, the regulator uncovered multiple AML deficiencies at QuinnBet. Notably, the operator lacked adequate controls to promptly recognize and mitigate risks associated with customers who were spending excessively. One customer, for instance, submitted monthly payslips indicating earnings of around £2,000 yet managed to deposit and lose £9,000 in just four days. Another individual deposited approximately £120,000 and withdrew £111,000 within three months, without QuinnBet verifying the source of those funds.
The review also pointed out failures to timely file Suspicious Activity Reports (SARs) and highlighted issues that arose during a platform migration, which allowed 194 customers to unintentionally surpass their deposit limits. This led to a breach of Licence Condition 12.1.1, which mandates effective AML policies, as well as Social Responsibility Code Provisions (SRCP) 3.4.3 and 3.4.4, which require timely responses to customer behavior indicative of potential harm.
QuinnBet's systems for identifying and addressing gambling-related harm were found lacking, due to dependence on manual oversight and delayed alerts. There was a case where a player placed about 4,800 bets in one day and another 7,000 bets the following day without raising any internal alarms. Another player staked over £215,000 in one day after a big win, with the activity being flagged only the next morning.
Additionally, a manual system for applying lower deposit limits for players aged 18-24 was noted, which sometimes allowed these younger customers to exceed limits for extended periods. One such instance involved a player who deposited eight times their monthly limit and lost the entire amount in a single day.
John Pierce, the Gambling Commission's director of enforcement, highlighted the case as a crucial reminder of the dangers of relying on ineffective systems that fail to quickly identify and react to signs of financial crime and harm. He stressed that operators need to ensure their protective measures function effectively to safeguard consumers and prevent crime in gambling.
Pierce acknowledged that QuinnBet had recognized its shortcomings and taken swift steps to enhance its AML policies and harm identification processes. The Commission appreciated QuinnBet's cooperation throughout the investigation, including its voluntary admission of certain issues and prompt development of a corrective action plan.
However, the regulator cited aggravating factors, including previous public statements related to similar issues at other operators.
A focus on AML has become increasingly critical for the Gambling Commission. A recent risk assessment report that evaluated money laundering and counter-terrorist financing vulnerabilities in the British gambling sector found operator-side failures to be a significant source of risk. The report criticized deficient AML/CTF policies, lack of proper training for staff, and inadequate monitoring of linked or duplicate accounts. This week, Holland Park Leisure Limited, an adult gaming centre operator, was also fined for its failure to participate in the necessary multi-operator self-exclusion scheme.
