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Investigation into Bet365 Reveals Risks

Investigation into Bet365 Reveals Risks

In a recent investigation by the UK Gambling Commission regarding social responsibility and anti-money laundering, it was revealed that Bet365 has a number of weaknesses and potential shortcomings in handling these risks.

Investigation into Bet365 Reveals Risks

Bet365 is currently under investigation by the UK Gambling Commission and certain risks have been revealed.

West Yorkshire Police also recently carried out an investigation on Bet365 which led to the conviction of an individual due to money laundering and theft.

Bet365 expressed their desire to share the outcome of these investigations with others in the industry in order to boost awareness.

The UK Gambling Commission has expressed their intentions to investigate other operators once their investigation of Bet365 is complete.

 

The Commission went on to express that shortcomings related to social responsibility and anti-money laundering are widespread and that they need to be addressed appropriately.

As Matthew Hill, director of regulatory risk and Analysis at the Gambling Commission, said, “This case demonstrates just how much work the gambling industry still has to do before it properly recognizes customers at risk.”

Hill went on to say that Bet365 had contributed extensive funds for research which included the development of predictive data analytics. This would benefit both the customer as well as the industry.

Bet365 is a leading gambling company which is based in United Kingdom. They are known to have over seven million customers based in two hundred countries.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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