The Gambling Division of the Government of Gibraltar has reached a regulatory settlement with a licensee for £25,000.
The settlement is in lieu of a penalty that would otherwise have been imposed relating to a case of “deficiency in management” of two non-UK customer cases.
A spokesperson for the Gambling Division said that, while they did not believe there was “any widespread systemic issue,” the cases nevertheless served as “an important learning point for the wider industry.”
In both cases, the operator had failed to fully reconcile a discrepancy in tax and income information provided by the respective customers.
“Tax evasion is a risk issue flagged up by the National Risk Assessment and, whilst there is no evidence that either of these two customers were engaged in tax evasion in their own jurisdictions, the operator, having identified a mismatch between income and tax information, should have been more inquisitive and asked the customers to provide an explanation of the identified mismatches,” said the spokesperson.
Without that further reconciliation of conflicting information, this could have given rise to objective grounds for suspicion that might have led to reporting.
"The operator has been fully cooperative and remains fit and proper to hold a licence."
