UK Commission Levies a Settlement Against Greentube
Published: December 13, 2021
The Commission in the UK has imposed a settlement on Greentube Alderney regarding money-laundering issues and lacking social responsibility. The NOVOMATIC enterprise has five licenses in the UK, running BFC and Admiral Casino.
The regulatory review for the past year started in December 2020 and discovered that Greentube did not perform according to its license conditions in four different ways. Hence, the Commission imposed a settlement amounting to roughly $900,000.
The violations in question include failing to perform estimations of money-laundering risks or prevent them and failing to report crucial events. Furthermore, the company did not communicate with players in a way that reduced the hazard of them experiencing harm.
Although the company accepted the assessment, it did not officially agree to keep written records of measures already taken to address money-laundering risks. It also failed to state the steps to address new risks happening when introducing new technologies or products.
Greentube, however, admitted that it had not assessed money-laundering monitoring operations properly. The company took slot-related risks lightly, and some players lost significant amounts of money.
Record keeping for the year was also not brilliant, not always able to shed light on certain decisions. Furthermore, employees failed to question customers regarding the fund sources, causing documentation trouble.
Although Greentube notified the National Crime Agency, submitting six reports, they missed informing the Commission in time.
In addition, Greentube said they relied more on the loss limit per month than communication with customers when assessing the risks. The company did not use other indicators like frequency and length to influence its decision-making.
Aside from paying the penalty, the enterprise has to publish an official statement on the case, enable third-party audits and pay the investigation costs to the Commission.
Commenting on the situation, Helen Vann, Executive Director at Greentube, stated:
Compliance with Commission rules aimed at keeping people safe and gambling crime-free is not optional. We will always take firm action against those operators who fail to meet the high standards we expect for consumers in Britain.
Greentube, the NOVOMATIC Interactive division, is an industry-leading developer of online casino solutions. Its omnichannel technology successfully converges mobile, online and land-based games.
The company’s rich portfolio includes Table Games, slots, server-based gaming, social gaming, AWP reloaded slots, and more.