According to the Gambling Commission, between January 2023 and May 2024, Platinum Gaming failed to adequately monitor or support several high-spending customers.
One customer lost £5,000 within a day of registering and over £16,000 in less than three months without being flagged as at risk. Another lost £31,000 over nine months, repeatedly hitting loss limits, yet no intervention occurred. In another instance, a player surpassed a £2,500 loss cap within 16 minutes of joining, while another wagered £73,000 in just 23 days and lost £4,100 with no meaningful interaction from the operator.
The investigation also identified serious anti-money laundering (AML) failings. Platinum Gaming’s risk assessment neglected to consider individuals previously banned for money laundering or terrorism financing concerns, allowing some to reopen accounts. Its customer due diligence procedures were vague and did not consistently assess high-risk indicators like large transactions, suspicious job profiles, or heavy losses.
This marks the second regulatory action against Platinum Gaming in two years, following a £2.9m fine in 2023 for similar offenses.
John Pierce, the Commission’s Director of Enforcement, condemned the operator for ignoring evident warning signs, highlighting “severe deficiencies in customer interaction systems” that let players lose large amounts rapidly, exceed limits, and exhibit binge gambling patterns without appropriate safeguards.
John Pierce, the Gambling Commission’s director of enforcement, mentioned:
Significant anti-money laundering failures were also identified. These included gaps in the licensee’s risk assessment, which failed to account for previously blocked accounts linked to money laundering concerns, and a lack of clarity in the AML policy around due diligence thresholds.
Customer reviews did not consistently consider high-risk factors, despite these being outlined in the licensee’s own framework.
Pierce stated that, in addition to the financial penalty, the operator is required to conduct an independent follow-up audit and an internal review, regularly updating the Commission on its progress.
He emphasized that these steps aim to foster “genuine improvement” and hold senior management fully accountable for compliance, cautioning that additional regulatory measures could follow if sufficient progress is not shown.
