Gambling: Money Laundering

(asked on 3rd November 2021) - View Source

Question to the Department for Digital, Culture, Media and Sport:

To ask Her Majesty's Government how many times gambling companies have paid compensation for failing to prevent money laundering when an individual criminally convicted of theft used stolen funds to gamble; and what was the total amount paid by gambling companies in such cases.


Answered by
Lord Parkinson of Whitley Bay Portrait
Lord Parkinson of Whitley Bay
Lord in Waiting (HM Household) (Whip)
This question was answered on 17th November 2021

The Gambling Commission can fine a gambling operator if a licence condition has been breached. In some circumstances, the Commission may decide to agree a regulatory settlement instead of issuing a fine. While fines are paid to the exchequer, regulatory settlements are divested by the company to third parties. In circumstances where a victim of crime can be identified, for example an employer whose money was stolen by someone who went on to gamble with those funds, the Commission would expect funds to be divested back to the employer.

The information we hold shows that in the last three years, the Commission has required four operators to pay compensation to victims where stolen funds have been used to gamble and an individual has been criminally convicted. The total amount paid by each gambling company is as follows:

  • Betway - £5,068,577

  • Gamesys - £460,472

  • Platinum Gaming - £629,420

  • Petfre - £140,000

In addition to these figures, all regulatory actions taken by the Gambling Commission are accessible on their Public Register which may be found at the following link.

This content was generated for your convenience by Parallel Parliament and does not form part of the official record.
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Recent Questions related to Gambling: Money Laundering
1. Gambling: Money Laundering
asked by: Lord Bishop of St Albans
17/11/2021
...To ask Her Majesty's Government how many times gambling companies have paid compensation for failing to prevent money laundering when an individual criminally convicted of theft used stolen funds to gamble; and what was the total amount paid by gambling companies in such cases.

2. Gambling: Money Laundering
asked by: Lord Bishop of St Albans
20/12/2021
... what is their estimate of the total number of stolen funds that are used for gambling purposes each year.

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