🎲 Star Racing Limited

Gambling business Star Racing Limited fined £594,000 +

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13 July 2023 +

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Gambling operator Star Racing Limited will pay a £594,000 penalty for anti-money laundering and social responsibility failures. +

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The operator - trading as Star Sports - will also receive an official warning and have conditions added to its licence. +

Anti-money laundering failures included having ineffective policies, procedures and controls in place at the time of the compliance assessment; allowing customers to deposit large amounts before obtaining source of funds information and failing to analyse source of funds information when it was obtained. +

Social responsibility failures included not demonstrating an understanding of the impact and effectiveness of customer interactions in terms of the minimisation of customer risk. +

The failings occurred between March 2020 and May 2021. +

Read Star Racing Limited full penalty. +

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Note to editors +

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Journalists can contact our press office on 0121 230 6700 or email: communications@gamblingcommission.gov.uk +

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For all media enquiries, please contact the Gambling Commission press office. +

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Last updated: 13 July 2023 +

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Following a review of the operating licence undertaken against Star Racing Limited (“the Licensee”), the Commission found that the Licensee breached: Paragraphs 2 and 3 of licence condition (LC) 12.1.1: Anti-money laundering - Prevention of money laundering and terrorist financingLicence Condition 12.1.2 requiring operators based in foreign jurisdictions to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) Regulations 2017, andParagraphs 1 and 2 of Social Responsibility code provision (SRCP) 3.4.1, requiring licensees to interact with customers in a way which minimises the risk of customers experiencing harms associated with gambling, and to take into account the Commission’s guidance on customer interaction. 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 financial penalty of £594,000 under section 121(1) of the Act 2005Give the Licensee a warning under section 117(1)(a) of the Act.Attach additional conditions to the Licensee’s operating licence under section 117(1)(b) of the Act.