Casino failed to undertake enhanced due diligence checks on its top 250 customers

Silverbond Enterprise Limited has received a hefty fine of £1.8m by the UKGC as casino breached social responsibility and AML rules multiple times.

As per the Gambling Commission, the operating company of Park Lane Club has failed to recognize potential gambling threats which include – Property damage, threats and other violent acts. Silverbond Enterprise Limited also failed to implement enhanced due-diligence on its top 250 customers, breaching licensing provisions on AML operator responsibilities.

Two Silverboard management officers have received formal warnings by the UKGC for failing to meet the standards set by the authority.

In August 2018, Park Lane Casino had hit the headline as its owner’s assets were seized in a Ukrainian Corruption Probe. The owner of a company, Vassilijs Melniks, was accused that he embezzled and laundered nearly €55 million as a part of a deal with the management of Ukrainian state-owned energy supplier Naftogaz.

Source – Gambling Insider

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