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Rank Group agrees £5m settlement over Grosvenor control failures
By The Weekly Edge desk · · Updated
Summary
Rank Group has agreed a £5m regulatory settlement with the UKGC over Grosvenor's anti-money laundering and social responsibility failures, Gaming Intelligence reported on 7 October. The report cites UKGC findings that customers gambled substantial amounts without source-of-funds checks or responsible gambling interventions. The regulator also found that Rank failed to update policies and perform required enhanced customer checks.
Why it matters
Rank’s £5m settlement highlights regulatory consequences of missing source-of-funds checks, responsible gambling interventions and required enhanced customer checks.