QuinnBet (Gibraltar) Limited, the operator of quinnbet.com, will pay £609,104 after the UK Gambling Commission identified failures in anti-money laundering (AML) procedures and social responsibility controls.
The settlement followed a compliance assessment that found weaknesses in the operator’s ability to identify gambling harm indicators, manage customer risks, and complete required financial checks. The payment will be made as part of a regulatory settlement with the Commission.
The regulator said QuinnBet failed to maintain effective systems to detect and respond to concerning customer activity. The investigation covered several areas, including deposit limit controls, vulnerability assessments, customer spending reviews, and Source of Funds checks.
John Pierce, the Commission’s Director of Enforcement, said in a press release: “This case highlights the serious consequences of relying on systems and controls that are unable to identify and respond to indicators of harm and financial crime quickly enough. We expect operators to ensure their safeguards are effective in practice to protect consumers and keep crime out of gambling.”
Gambling Harm Controls Failed To Identify Risk Signals
The Commission found that QuinnBet’s customer protection measures did not always identify behaviour that could indicate gambling harm.
One issue involved customers aged 18 to 24, where the operator used a manual process for applying deposit limits. The regulator said this allowed some customers in the age group to exceed their intended limits before restrictions became active.
In one case, a customer deposited eight times their intended monthly limit before the restriction was applied and lost the full amount in one day.
The Commission also criticised QuinnBet’s monitoring systems for failing to detect high-risk gambling activity quickly enough. Indicators such as large deposits, rapidly increasing stakes, short high-volume sessions, and high turnover were not consistently captured for review.
One customer placed approximately 4,800 bets in a single day and 7,000 bets the following day without being flagged for intervention.
Another customer increased betting activity after receiving a large win. The player went on to stake more than £215,000 in one day, including multiple wagers above £5,000, but the activity was only identified through a report generated the following day.
The regulator also found issues with financial vulnerability checks. During a migration to a new platform, some customers who met the required threshold did not receive the checks at the correct time. QuinnBet later reported that 41 customers would have failed the checks and 136 would have required account restrictions.
AML Procedures Raised Concerns Over Customer Funds
The investigation also identified weaknesses in QuinnBet’s approach to preventing money laundering risks.
The Commission found that the operator did not always act quickly when customers showed spending patterns that appeared inconsistent with their known financial circumstances.
One customer provided payslips showing monthly earnings of around £2,000 but was able to deposit and lose £9,000 within four days.
Another customer deposited £120,000 and withdrew £111,000 over three months. QuinnBet believed the funds could have been recycled but did not obtain evidence confirming the source of the money.
The regulator also found cases where customers deposited significant amounts without sufficient Source of Funds evidence showing that the money came from a legitimate origin. QuinnBet also had shortcomings in ensuring suspicious activity reports were submitted promptly after concerns reached the required threshold.
A total of 194 customers were allowed to deposit and potentially lose funds above their intended limits. QuinnBet attributed the issue to human error and software update problems during a platform migration, with the problem later corrected.
QuinnBet Implemented Improvements After Review
The Commission noted that QuinnBet cooperated with the investigation, accepted the identified issues, and took steps to improve its compliance framework.
The operator strengthened its AML procedures and improved the way it identifies and responds to customer risk indicators. The regulator said these actions were considered when determining the outcome of the case.
The £609,104 settlement includes £193,118 in disgorgement, with the funds directed to the UK government’s Consolidated Fund.
Pierce said operators should review the findings and ensure their own systems meet regulatory expectations.
“In this case, the operator recognised the issues and took immediate action to make significant improvements to its systems and controls. This included strengthening their AML policies and procedures and improving how they identify and respond to indicators of harm.”
He added: “We expect operators to learn from this case and read the public statement to ensure that they do not make the same mistakes. Our key focus is on ensuring that operators meet the standards we expect and, where they fall short, we will take regulatory action where necessary.”