Betsson: Betsson subsidiary fined 0.7 million for anti-money laundering failings

Betting company Betsson's subsidiary has been fined by The Isle Of Man Gambling Supervision Commission, a regulatory body for the gambling industry on the Isle of Man. The news is highlighted by the industry website Next iO. The fine is £ 700,000 and is required by the subsidiary BMO Manx. This follows a detailed review that found that the company had breached a number of established guidelines and regulations. These include deficiencies in policies, procedures and operational frameworks, and in particular compliance with anti-money laundering and counter-terrorist financing rules.