Caesars Entertainment was fined by the UK Gambling Commission for falling short of the protocols set in place for anti-money laundering (AML). On Wednesday, the UKGC posted a notice on their website, stating that two Caesars casinos in the UK had a number of serious weaknesses. These two venues include the London Clubs LSQ and the Playboy Club London.

In specific terms, Caesars UK failed to assess appropriately the risk of dealing with particular customers. They did not conduct due diligence sufficiently, understand the source or sources of a customer’s wealth and keep records detailing the decision making process. Caesars UK also was found by the UKGC to be overly reliant on checks made by the international divisions of Caesars, regardless if those jurisdiction’s AML requirements matched the requirements of the UKGC.

Caesars admitted to their shortcomings and was willing to propose a voluntary settlement that the UKGC decided to accept. An independent external provider will be conducting a review of the AML policies of Caesars UK as well as processes.  Action will then be implemented based on a plan to adjust these weaknesses.

Leave a Reply

Your email address will not be published.