UKGC Criticizes Paddy Power For “Serious Failings”

While Paddy Power seems to thrive on the notoriety its controversial advertising campaigns bring it, the Irish bookmaker recently received the sort of attention even it would have preferred to do without. According to a UK Gambling Commission (UKGC) report released last week, Paddy Power was accused of “serious failings” in its anti-money laundering and anti-fraud procedures.
Amongst the examples cited by the regulator was the case of two betting shops customers who managed to launder money via Paddy Power’s fixed-odds betting terminals (FOBTs). The bookmaker was also accused of failing to
take “reasonable steps” to prevent fraud by identifying where certain online customers derived their gambling funds.
The last criticism centres upon an incident in which a gambling addict, Mark Cooney, stole around £250,000 from old or deceased customers who had accounts at the bank that he worked. While Cooney received a 28 month prison sentence for his crimes, the UKGC said Paddy Power “made no direct inquires”as to the source of the money. As the regulator explained:
“The betting company said it had flagged Cooney as “medium risk” and recommended that further information be obtained, but no action was taken. The operator acknowledged that it failed to follow its own due diligence procedures with regard to checks on customers.”
In another case, Paddy Power was also accused of actively encouraging a problem gambler to continue betting, even though his addiction caused him to lose five jobs and his home. The UKGC subsequently stated that “this was grossly at odds with the licensing objective of preventing vulnerable people from being exploited by gambling.”
Following the report’s release, Paddy Power paid £27,250 to cover the UKGC investigation, and also made a further £280,000 voluntary payment contribution to a “socially responsible” cause. In addition, a spokesperson for the company said that Paddy Power had cooperated with the UKGC throughout the whole investigation, and that it had now “strengthened its internal procedures”


Poker News
west virginia online poker
14 Mar 2019
Online gambling could soon be legal in West Virginia as long as the state’s Governor doesn’t decide to throw a last-minute wrench into the process. House Bill 2934, which would legalize all forms on online gambling in the state, including online poker and casino gaming, passed a vote in the Senate earlier this week. The
Mississippi Casinos Post Record Revenue in April as Sports Betting Beckons
04 Jun 2018
Mississippi’s casinos generated gross gaming revenue of $184 million in April, or 5% more compared to the same month in 2017. Furthermore, that total represents an all-time high for the state, and is 1.3% more than the previous record set in 2007 when thousands of volunteers entered Mississippi to assist in cleanup efforts post-Hurricane Katrina.
Switzerland Prepares For June 10th Legalized iGambling Referendum
04 Jun 2018
On June 10th, Switzerland will hold a national referendum to decide whether the ‘Money Gaming Act’ passed by the Swiss Parliament in September 2017 can be implemented next year in its present form. The piece of legislation paves the way for land-based casinos and local partners to offer legalized online gambling in Switzerland, although a
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed