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Paddy Power Betfair fined after taken money is bet through its site
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16 October 2018
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Paddy Power has been fined ₤ 2.2 m for failing to stop taken money being gambled through its site and for failing to secure consumers showing indications of problem gaming.

The Gambling Commission stated the bookie's failings meant "substantial quantities of stolen money flowed through their exchange".
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One consumer utilized money defrauded from his company, Birmingham Dogs Home.

Paddy Power Betfair apologised and stated it had strengthened its procedures.
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The regulator said Paddy Power Betfair's behaviour was simply not appropriate.

A Gambling Commission examination, external also found that the bookmaker stopped working to sufficiently communicate with consumers who were showing indications of problem betting.

"These failings all originate from one easy concept - operators should know their client," said Richard Watson, Gambling Commission executive director.

"If they understand their customer and ask the ideal concerns then they position themselves in a strong position to fulfill their anti-money laundering and social obligation commitments."

'Very sorry'

As part of the settlement, Paddy Power Betfair will make a ₤ 1.7 m payment to GambleAware, the independent charity that commissions research study, education and treatment services to reduce gambling-related damage in the UK.
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Paddy Power Betfair president Peter Jackson said: "We have a responsibility to step in when our customers reveal indications of problem betting. In these five cases our interventions were not reliable and we are really sorry that this promotion code occurred.

"Recently, we have invested in a substantial programme of work to strengthen our resources and systems in responsible gambling and client security. We are encouraged that the Gambling Commission has identified considerable enhancement given that the yohaig code time of these cases in 2016."

The commission's query centred on five consumers in 2016, consisting of 2 who were permitted to bet taken money - among whom had defrauded his employer, Birmingham Dogs Home.

Simon Price, who was chief executive of the pets home, and his other half Alayna confessed cheating the charity of ₤ 894,754 to fund his betting addiction.

Mr Price was jailed for 5 years at the end of 2017, while Mrs Price was offered a two-year suspended term.

As part of Paddy Power's settlement with the Gambling Commission, the yohaig code cash will be returned to the canines home.

Shares in Paddy Power Betfair increased 3.4% in late trading in London.
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William Hill fined for lax criminal controls

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