Account Number: 1950
Corbett Bookmakers Limited is a UK-licensed gambling operator. Corbett Bookmakers Limited has 1 regulatory action on record with the UK Gambling Commission.
Corbett Bookmakers Limited
1950
Corbett Bookmakers Limited,"74-78 Welsh Road, Garden City",DEESIDE, United Kingdom
CH5 2HU
General Betting Standard
General Betting Standard - Real Event
General Betting Standard
Following a review of the operating licence undertaken against Corbett Bookmakers Limited (the Licensee) the Commission found that the Licensee:Breached paragraphs 1 and 2 of Licence Condition 12.1.1 - Anti-money laundering - Prevention of money laundering and terrorist financing.Failed to comply with paragraphs 1a, 1b, 1c and Paragraph 2 of social responsibility code provision 3.4.1 - Customer Interaction.In addition, Officials consider the Licensee failed to fully consider Ordinary Code Provision (“OCP”) 2.1.2 paragraph 1 – Anti-money laundering - other than casino.In line with the Commission’s Licensing, compliance and enforcement policy statement, the Indicative sanctions guidance and the Statement of principles for determining financial penalties, the Commission has decided to: (i) attach an additional condition to the Licensee’s operating licence under section 117(1)(b) of the Act requiring the Licensee to conduct a third-party audit within 12 months of the conclusion of the review, to examine whether the Licensee is effectively implementing its anti-money laundering and social responsibility policies, procedures and controls(ii) impose a financial penalty of £686,070 under section 121 of the Act.The Licensee co-operated with the Commission throughout the investigation and took corrective steps to address the identified failings.
Following a review of the operating licence undertaken against Corbett Bookmakers Limited (the Licensee), the Commission found that the Licensee:breach of paragraph 1 of Licence condition 12.1.1 (Prevention of money laundering and terrorist financing)breach of paragraph 2 and 3 of Licence condition 12.1.1 (prevention of money launderingfailure to comply with Social Responsibility code provision (SRCP) 3.4.1failure to comply with Paragraph 2 of SRCP 1.1.2 Responsibility for third partiesfailure to take into Consideration of Ordinary code provisions 2.1.1 paragraphs 1 and 2.1.2 paragraph 1In line with the Commission’s Licensing, compliance and enforcement policy statement, the Indicative sanctions guidance and the Statement of principles for determining financial penalties, the Commission has decided to:i. impose a warning under section 117 (1) (a) of the Gambling Act 2005 (the Act)ii. attach additional conditions to the Licensee’s operating licence under section 117(1)(b) of the AcThe Licensee must undertake a third-party audit within 12 months of the conclusion of the review. The purpose of the audit is to examine whether the Licensee is effectively implementing its anti-money laundering and social responsibility policies, procedures and controls in accordance with its regulatory requirements.iii. impose a financial penalty of £215,600 under section 121 of the Act.The Licensee co-operated with the Commission throughout the investigation and took corrective steps to address the identified failings.
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