Settlement proceedings against Greentube Alderney by the UK Gambling Commission

The UK Gambling Commission has fined Greentube Alderney for breaches involving anti-money laundering regulations and lacking social accountability. In Britain, NOVOMATIC The corporation holds five different license types and operates popular gambling sites like Bell Fruit Casino and Admiral Casino.

Investigations on the operator kicked off in December 2020 and revealed the firm's non-compliance with licensing conditions in four unique areas between December 2019 and November 2020.

An enforcement settlement totaling £685,000 was imposed for the following lapses in duty:

Not conducting effective risk assessments regarding money laundering

Inability to recognize and prevent money laundering activities

Failure to report major events

Failing to interact with customers in ways that mitigate the risks of harmful gambling behavior.

Greentube's Reaction to Deficiencies Unveiled

While Greentube recognized the UK's Risk Assessment, it did not explicitly commit to documenting efforts made to address the identified money laundering threats.

Greentube also overlooked detailing measures to evaluate emerging risks from new technologies or market practices, despite acknowledging low-risk indicators as specified by the Commission.

Greentube conceded that tracking out-of-hours money laundering risks was a weak spot in their policies.

The company further admitted that its reliance on classifying slot games as low-risk was unfounded, allowing significant player losses before triggering Source of Funds checks.

Acknowledgment was made that record maintenance during the evaluation period was inadequate, limiting their ability to provide tangible evidence for decision-making logs.

Additional admissions include employes insufficiently probing the origins of customer funds and delayed action on payment method ownership verification.

Transactions Reported to the Police

Regarding key event reporting, Greentube submitted six suspicious activity reports to the National Crime Agency but failed to inform the UK Commission in a timely five-day period.

In social responsibility, Greentube conceded some reliance on monthly loss limit alerts instead of direct customer engagement to detect problematic gambling.

Other factors such as gambling session length, frequency, and timing weren't always considered in decision-making programs.

Besides the agreed settlement instead of financial penalties, Greentube has consented to release a detailed statement on the case, submit to third-party audits, and cover £8,789.86 in inquiry costs.

Helen Vann, Executive Director stated: \"Sticking to Commission guidelines ensuring public safety and a crime-free gambling environment isn't negotiable.

\"We will consistently enforce stringent measures against operators who fail to uphold the standards we set for British consumers.\"