The UK Gambling Commission has issued Silverbond Enterprises with a multitude a penalties, after discovering social responsibility and money laundering failings.
Silverbond received the punishments follows a UKGC investigation into its Park Lane Club in Mayfair, with the land-based casino receiving a £1.8m fine, an operator licence warning and having additional conditions added to its license.
The actions follow a review of the licence held by the firm on February 26, 2016, after which the regulator conducted inspections with the licensee on January 16 and 17, 2018, and March 28, 2018, at the Park Lane Club.
Following the probe the Commission found, with Silverbond accepting, it had breached its additional licence condition due to a failure to complete full enhanced due diligence on its top 250 customers within its customer profiling system.
Furthermore, a breach relating to anti-money laundering and the UKGC’s licence conditions and codes of practice was also found, as was a failure to comply with social responsibility codes of practice.
Social responsibility failings included not recognising the indicators of potential problem gambling, such as a customer displaying violent behaviour which included threatening staff and damaging of property.
Added examples also include a customer asking for his winnings to be transferred to his personal bank account to prevent him playing further, and a customer of the casino asking to increase the maximum amount that could be deposited by cheque.
Money laundering issues flagged include the operator’s compliance procedures not detailing how anti-money laundering policies were to be implemented, and failing to carry out EDD on 61 customers.
As well as a £1.8m fine and operator licence warning, the imposition of a number of additional licence conditions have also been issued.
These include the need for regular staff training, ensuring that all personal management licence holders, senior management, and key control staff undertake outsourced AML training, maintaining full EDD on top-250 customers and making sure an independent audit is undertaken on that list within six months.
Two personal management licence holders at Park Lane Club have also received formal warnings, and informed they must improve their record on protecting players and preventing money laundering.