The UK Gambling Commission has slapped a fine and imposed a series of measures on gambling operator Silverbond Enterprises for not complying with its license conditions related to social responsibility.
The gambling regulator slapped a £1.8m fine (USD 2.2 M) fine on Silverbond Enterprises after it launched an investigation into the company’s Park Lane Club in Mayfair.
The fine was levied as the gambling watchdog found the operator to be lax in administering anti-money laundering measures and for being socially irresponsible.
Recently, the UK Gambling Commission proposed a number of new license conditions and codes of practice (LCCP). The LCCPs are outlined after consulting with other stakeholders from the gambling industry.
The new LCCPs aim at ‘raising standards for alternative dispute resolution (ADR), strengthening requirements on how licensees identify and interact with customers who may be at risk of or experiencing gambling harms, and improve the transparency of funding for research, prevention, and treatment.’
The Gambling Commission published on its official website that it has initiated a review under Section 116 of the Gambling Act of 2005 into EveryMatrix Software Limited.