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Gala Coral to Upgrade Anti-Money Laundering Processes Following Investigation

UK-based betting shop, Gala Coral, has been investigated by the UK Gambling Commission (UKGC) and has been found lacking in the areas of anti-money laundering and social responsibility processes. The betting giant has agreed to pay €1.1 million in a settlement.

Gala Coral and specifically its Coral Racing and Gala Interactive divisions came into the spotlight after a man they had a customer relationship with was convicted of stealing more than €1 million from another vulnerable adult and was sentenced to three years in jail. The UKGC investigation focused on how these divisions dealt with their relationship with the man who had been a customer of their retail division since 2012 and of their online division between January 2014 and January 2015.

A number of failings were discovered in the operator’s anti-money laundering and social responsibility processes and Gala Coral agreed to pay a settlement of €1.1 million to the victim to compensate him for what he lost by gambling via the operator.

At the same time, Gala Coral is undergoing an upgrade to its anti-money laundering and social responsibility processes and the UKGC says they hope that other operators will take note of this case and ensure that their processes are sufficient to prevent similar incidents from happening via their companies.

“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,” stated the program director at the UKGC, Richard Watson.

“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.”

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