UKGC fines TonyBet £440,000 for Unfair Terms

The British sports and casino operator TonyBet was fined £442,750 by UK’s watchdog for applying unfair terms and breaking anti-money laundering regulations. It became clear from the UKGC statement that the fine is due to failure to abide by the above-mentioned regulationс and that the operator has received a warning for implementing potentially abusive terms. Additionally, the company was assigned a third-party audit to evaluate how successfully it manages to abide by the AML initiative.

A major problem found by UKGC in the venue’s T&Cs was the provision that TonyBet retains the right to request identification documents for every withdrawal request. This in return creates a mechanism for potentially denying clients’ withdrawals indefinitely while stripping them of the right to receive their funds. Further major violation of user rights was the provision to block accounts in case of a 30-day delay in providing the required documents. As outlined by law, the period should be in cases of аt least a 12-month delay.

Lastly, TonyBet is under ongoing investigation for failing to provide aid to players at risk of gambling addiction. More severely, it failed to apply AML procedures aimed at preventing terrorists from acquiring funding via gamble money laundry.

In a personal statement by UKGC’s director Key Roberts, he stated that the actions clearly illustrate the institution’s drive to clamp down on fraudulent behavior in the iGaming industry. He also stressed that UKGC will act firmly against all gaming venues failing to provide a fair and safe environment to British players.

The news is without a question a major blow to Betsson’s reputation. If as a result you seek to switch venues and want good alternatives, here are some of our all-time favorite British online casinos that we warmly recommend – Willam Hill, UK Casino Club, MagicRed

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