The UK Gambling Commission (UKGC) is slapping UK-based operator Stan James Online with an £80,000 fine for failure to comply with anti-money laundering regulations and stop gaps meant to prevent problem gambling.
Stan James Online’s trouble with the UKGC date back to the period between November 2014 and October 2016. That’s when the commission overseeing UK gambling says the company fell well short of its obligations to protect problem gamblers from accessing the site. This is what’s known in UK parlance as a violation of the, “social responsibility code.”
In this case, that failure to adhere to the social responsibility code involved a failure to react to what the Commission sees as signs of problem gambling; as well as allowing a self-excluded player to gamble large sums of cash at the site. . Even then, according to the UKGC, Stan James Online took only limited steps to limit his play.
The Commission also found that Stan James Online failed to properly implement regulations designed to keep stolen cash from being laundered through casinos. In particular, the UKGC points to the case of a UK man who gambled £137,000 in funds stolen from his employer on the site.
It’s worth noting that the bulk of this activity occurred well before Stan James Online’s current owner, the Kindred Group, acquired the company in July of 2015. Early in 2017, the Kindred Group group announced that it would be dissolving the Stan James Online portion of its portfolio.
It’s also worth noting that, in their report on the matter, regulators praised company officials for their cooperation with the investigation and their willingness to address the issues in a timely manner.
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