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Paddy Power Betfair to pay penalty16 October 2018(PRESS RELEASE) -- A Gambling Commission investigation has revealed that Paddy Power Betfair (PPB) failed to adequately interact with customers who were displaying signs of problem gambling and failed to adequately carry out anti-money laundering checks. Two of the customers were using PPB’s betting exchange, and a further three were gambling using the operator’s online presence and retail premises. Richard Watson, Gambling Commission Executive Director, said, “As a result of Paddy Power Betfair’s failings significant amounts of stolen money flowed through their exchange and this is simply not acceptable. Operators have a duty to all of their customers to seek to prevent the proceeds of crime from being used in gambling. “These failings all stem from one simple principle – operators must know their customer. If they know their customer and ask the right questions then they place themselves in a strong position to meet their anti-money laundering and social responsibility obligations.”
Paddy Power Betfair to pay penalty
is republished from Online.CasinoCity.com.
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