Egaming firm regulatory failings cost it £140,000

Monday, 7 October 2024 07:25

An egaming company will have to pay £140,000 for breaching anti-money laundering rules.

CyberHorizon, which has its registered offices in Sovereign House on Christian Road in Douglas, was investigated by the Gambling Supervision Commission after an inspection.

The GSC said the company hadn't followed rules about doing due diligence on customers and wasn't doing risk assessments correctly.

It imposed a £200,000 civil penalty but discounted it by 30 per cent because the company had cooperated with its probe.

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