A licensee in the British overseas territory of Gibraltar has reached a settlement with the Government of Gibraltar, agreeing to pay £35,000.
The government’s gambling division said that the operator had been “fully cooperative” and was in the process of implementing a remediation plan.
Having identified several control failings on a previous site visit, the division published a series of learning points for the wider industry, including that: “regulatory advice contained in AML Assessment findings letters should always be acted on in a timely manner,” and “operators must periodically employ a qualified third party or independent internal audit unit to carry out a review of AML/CFT controls.”
The operator was also described as “fit and proper to hold a licence.”
