ProgressPlay faces the second fine for the failures of LMA responsibility and social responsibility
ProgressPlay Limited faces its second fine for LAM failures and social responsibility following an assessment of the compliance of the game committee.
The game company will have to pay a fine of 1 million sterling pounds after an assessment of the compliance of the game committee reveals failures in the procedures for combating money laundering (LMA) and social responsibility. ProgressPlay manages 134 websites and will now have to undertake a third -party audit to ensure that its policies concerning LMA and social responsibility are effective.
LMA’s failures included the non-realization of appropriate assessments or the implementation of good checks to mitigate the risk of money laundering and terrorist financing. The Commission also noted that ProgressPlay did not consider all the risks associated with its activities and did not examine the relevant transactions with customers.
“Game companies must have solid policies and procedures in place to protect consumers and guarantee that anti-whipping checks are maintained,” said John Pierce, director of application and information. “These measures must be implemented actively and regularly tested to confirm their effectiveness.
“This case marks the second time that ProgressPlay Limited is subject to measures to apply the game committee. Its inability to comply with the obligations of LMA, as well as the gaps identified in its processes of social responsibility, are unacceptable. As part of the regulatory results, the progress game is now necessary to undergo an independent third -party audit to assess the adequacy of its compliance agreements between these areas.
“Operators must undoubtedly be: repeated regulatory violations will lead to increasingly severe application measures. We urge all operators to examine the failures identified in this case and to take proactive measures to strengthen their own systems and controls. ”
Social responsibility in the game is when companies have the mandate to monitor customers for the risk of potential damage linked to the game. It has been found that Proglayplay had no adequate systems in place to follow potential risk factors or implement relevant interventions.
For example, there was no customer interaction policy, which means that the company failed to identify, act and assess customer behavior correctly.
This is the second opportunity to progress was confronted with implementing measures, the previous incident taking place in 2022, where the operator was sentenced to a fine of £ 175,718 for social responsibility and anti-balance failures. The last fine comes after the Commission recently strengthened its processes of influence from operators in rules.
Star image: Midjourney
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