Online operator QuinnBet (Gibraltar) Limited has agreed to pay a regulatory settlement of £609,104 ($830,501) to the UK Gambling Commission (UKGC) following an extensive compliance review that identified substantial shortcomings in the company’s anti-money laundering (AML) protocols and safer gambling controls.
The regulatory review spanned QuinnBet’s remote gambling licence from March 2023 to August 2025. The total financial package comprises a disgorgement payment of £193,118 in retained profits alongside contributions toward the Commission’s investigative expenses. All settlement funds will be directed to the UK government’s Consolidated Fund to support public services and national debt servicing.
The UKGC identified significant AML vulnerabilities, highlighting that QuinnBet lacked effective controls to detect and mitigate risks related to disproportionate customer spend. In one case, a customer earning around £2,000 monthly deposited and lost £9,000 within four days. Another customer deposited £120,000 and withdrew £111,000 within three months without adequate source of funds verification. Furthermore, platform migration errors allowed 194 users to inadvertently exceed deposit limits.
Regarding social responsibility, the regulator criticized QuinnBet’s reliance on manual monitoring and delayed alerts. Notable incidents included a user placing over 11,800 bets across two consecutive days without triggering automated warnings, while another user wagered over £215,000 in a day post-win without timely intervention. Additionally, manual deposit caps for players aged 18–24 failed, permitting one young player to deposit eight times their monthly limit in a single day.
UKGC Director of Enforcement John Pierce stated that operators must ensure safeguards are fully practical and responsive to keep crime out of gambling and protect consumers.
Source: iGaming Business