Gambling Commission Hits Online Casino Firm Genesis with £3.8m Fine

The Genesis Global casino has been slapped with a £3.8 million fine by Gambling Commission for engaging in money laundering and other social responsibility failures. The gambling watchdog had suspended its license for three months last year. However, the commission reinstated the licence after the firm made some improvements.

However, this casino will have to conduct further extensive audits to keep its license. This directive covers all the 14 websites run by the company. Some of the popular gambling sites include casinoplanet.com, casino cruise.com and genessoiscasino.com. among others. A bulk of these gambling firms operates in the UK and surrounding countries.

The commission’s executive director, Helen Venn, said that all other gambling businesses should pay close attention to this very case. She added that the commission would do everything in its power to ensure consumer safety, even if it meant stopping the businesses from ever operating. Helen also claimed that failing to keep the rules will never be tolerated for gambling businesses operating in Britain.

Social Responsibility Failures

Some of the social responsibility failures that the Gambling Commission accused Genesis included not producing any meaningful response for a customer that spent a whopping £245,000 in about three months. This was after the business found out that the customer was an NHS nurse that earned just £30,000 a year.

In another case, the commission accused Genesis of not making a responsible reaction to another customer that lost a whopping £197,000 in just six months. This customer later closed the account so that she could spend time with her family. However, she was allowed to open another account with the gambling platform and deposit £200.

One money laundering case occurred when the casino allowed a customer to deposit over £1.3 million. This customer went on top lose over £600,000 before it decided to check where the funds had come from.

The Gambling Commission has been on high alert to enforce strict gambling rules across the UK. The country is one of the greatest gambling markets worldwide and one of the most regulated jurisdictions.

Despite this, there have been several problematic gambling instances with some people putting their finances into problems. This has prompted the gambling watchdog to introduce more strict rules and enforce them with greater force and no room for negotiation. The case of Genesis casino is one of the issues it has been following to stamp its authority and ensure adherence to rules.

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