Wednesday 27. April, 2016

Gala Coral Agrees to Regulatory Settlement with UKGC

An investigation conducted by the UK Gambling Commission (UKGC) found that Gala Coral was remiss in its anti-money laundering and social responsibility processes, resulting in a number of failings in these areas. As part of a regulatory settlement, Gala Coral has agreed to pay £864,000.

The UKGC investigation looked into how Gala Coral handled a relationship they had with one of their customers who was jailed for three years after he admitted stealing £800,000 from another person. The investigation focused on the company’s Coral Racing and Gala Interactive branches. The convicted man had been a customer of Gala Coral since 2012, first in the retail division and following that, online from January 2014 to January 2015.

Gala Coral’s regulatory settlement involves a number of steps, beginning with having to pay £864,00 to the victim, which will cover the amount that the man lost by gambling via the company. In addition, Gala Coral will undertake a process of improvements of its anti-money laundering and social responsibility processes to help avoid similar occurrences in the future.

The UKGC has urged all operators to learn from this case and to ensure that their own processes are sufficient to avoid incidents of these types in the future.

“We expect the industry will learn the lessons from this case, as it is their responsibility to keep crime out of gambling and protect vulnerable people from harm,” commented Richard Watson, program director at the UKGC.

“We know that Gala Coral have reflected heavily on this case and have assured us of actions they have taken to address the failings.”

“Operators must proactively monitor customers to keep gambling safe and free from crime,” he continued.

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