Rus
Bookmakers 05 dec 2023 at 04:11

In the Netherlands, a bookmaker was fined €3 million

Dean Hall
Author
In the Netherlands, a bookmaker was fined €3 million

In the Netherlands, a bookmaker was fined €3 million for violating anti-money laundering and anti-terrorism financing regulations.

It's reported that the operator faced accusations of insufficiently controlling customer behavior. Players lost €25,000 and €110,000 within a month. The company also failed to react when a player lost $85,000 over 6 months.

The KSA (Netherlands Gambling Authority) initially warned the bookmaker last autumn after client reports indicated violations.

Following the warning, the KSA instructed the company on how to conduct proper investigations and promptly report unusual transactions to the Financial Intelligence Unit.

The notification about the fine specifically mentioned that many measures were taken too late, after significant sums of money had already been lost.

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