The UK Gambling Commission Fines Greentube Alderney With A Hefty Fine

The UK Gambling Commission stays true to its no nonsense way of maintaining the rules and fines Greentube with a hefty fine.

UK Gambling Commission Imposes Settlement Action on Greentube Alderney

The United Kingdom Gambling Commission fines Greentube Alderney with a regulatory settlement in the amount of £685.000 ($908,378) for money laundering and violating social responsibilities. According to the Commission, the investigation started back in December of 2020 in the form of a regulatory review.

Consequently, the report concludes that Greentube Alderney by Novomatic Interactive failed to comply with the regulations. And that is on 4 separate occasions, between December 2019 and November 2020.

As a result, the UK Commission issued the regulatory settlement of £685.000 against Greentube for violating the following:

  • Conduct proper money-laundering risk assessment
  • Prevent money laundering activities
  • Report key events
  • Interact with customers with minimal risk of harm

In light of the regulatory settlement, the Commission states that Greentube already started the process of implementing the official regulations. For that matter, Greentube confirmed that there was an insufficient dedication to money laundering risks. Yet, the Novomatic company does not provide a clear explanation when it comes to the other accusations.

One such instance is the ‘identity and asses the risks of money laundering to which its business is subject as required’ rule. Greentube is still silent on this matter and is yet to acknowledge that it would store this type of data. Same with the low-risk factors of implementing new technologies or innovations.

In addition to the £685.000 ($908,378) in fines, Greentube is to reimburse the investigation costs of the Commission in the amount of £8.789 ($11.655).

The Executive Director of the Commission, Helen Vann, states that this should serve as a lesson to other operators. And that any similar violation of the rules of the Commission will result in ‘firm action’ regardless of the company.

We will always take firm action against those operators who fail to meet the high standards we expect for consumers in Britain.

Helen Vann – Executive Director at Greentube Alderney

Consequently this just goes to further prove the notorious reputation of the UK Gambling Commission as one of the strictest regulator in the business, and the fact that it is willing to impose the law regardless of the magnitude of the operator who breaks the law.

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