Gambling Firm Betway Hit with Record ₤ 11.6 M Penalty Gambling company Betway struck with record ₤ 11.6 m charge 12 March 2020 Online betting firm Betway has been hit with a record penalty of ₤ 11.6 m for failings over client security and money-laundering checks. The Gambling Commission stated Betway stopped working to examine the source of funds of one client who transferred over ₤ 8m and lost over ₤ 4m in a four-year duration. It likewise stopped working to successfully communicate with a customer who transferred and lost ₤ 187,000 in two days. The charge bundle is the biggest to date dealt with by a UK betting firm. The Gambling Commission's investigation stated the failings were linked to negotiations with seven of Betway's high-spending consumers. William Hill site Mr Green to pay ₤ 3m charge 'My partner took ₤ 300,000 to fund his gambling habit' It stated that "as an outcome of an absence of factor to consider of private consumers affordability and source of funds checks, the operator allowed ₤ 5.8 m of money to flow through business which has actually been discovered, or might fairly be thought to be, earnings of criminal offense". The commission said the examination had actually likewise revealed "inadequate management oversight", adding that a probe "into responsible Personal Management Licence holders" was continuing. "The actions of Betway recommend there was little regard for the welfare of its VIP customers or the effect on those around them," said Richard Watson, executive director at the Gambling Commission. "As part of our continuous programme of work to make betting more secure, we are pushing the market to make fast progress on the locations that we think about will have the most significant effect to secure consumers," he added.