🎲 Spreadex Limited

Following a review of the operating licence of Spreadex Limited (the Licensee), the Commission found that between September 2022 and November 2023 the Licensee: Breached paragraphs 1, 2 and 3 of Licence condition 12.1.1: Anti-money laundering - Prevention of money laundering and terrorist financing. Failed to comply with paragraph 9c of Social Responsibility Code Provision (“SRCP”) 3.4.3: Customer Interaction. Failed to comply with a specific condition attached to its operating licence Failed to sufficiently consider ordinary code provision (“OCP”) 2.1.1 Anti-money laundering - 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: impose a warning under section 117 (1)(a) of the Gambling Act 2005 (the Act); impose a financial penalty of £2,022,000; and,  attach an additional condition to the Licensee’s operating licence under section 117(1)(b) of the Act. The Licensee co-operated with the Commission throughout the investigation. * An OCP sets out good practice. Operators may adopt alternative approaches to those set out in ordinary code provisions if they have fully considered the risk and recorded its reasoning