{"id":12875,"date":"2022-12-02T13:30:21","date_gmt":"2022-12-02T13:30:21","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=12875"},"modified":"2022-12-02T13:30:21","modified_gmt":"2022-12-02T13:30:21","slug":"ukgc-fines-aspire-global-237600-over-serious-anti-money-laundering-failings","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/ukgc-fines-aspire-global-237600-over-serious-anti-money-laundering-failings\/","title":{"rendered":"UKGC Fines Aspire Global \u00a3237,600 Over Serious AML Failings"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2022\/12\/aspire-global.jpg\" alt=\"Aspire Global\" title=\"UKGC Fines Aspire Global \u00a3237,600 Over Serious AML Failings\" width=\"300\" class=\"alignleft size-full wp-image-12877\" \/><strong>Summary<\/strong><\/p>\n<ul>\n<li>Aspire Global\u2019s AML failures resulted in a six-figure fine, a warning, and additional license conditions<\/li>\n<li>The sanction relates to the company\u2019s white-label partnerships with third-party businesses<\/li>\n<li>It is the latest operator to be sanctioned by the UKGC in 2022<\/li>\n<\/ul>\n<p>The <a href=\"https:\/\/www.legitgambling.com\/worldwide-gambling-licensing-authorities\/uk-gambling-commission\">UK Gambling Commission<\/a> (UKGC) has fined online gaming solutions provider <strong>Aspire Global<\/strong> for anti-money laundering (AML) failings. The company is the latest to be sanctioned by the Commission over compliance failures.<\/p>\n<p>The UKGC stated in its latest enforcement update that it <strong>imposed a \u00a3237,600 fine on AG Communications<\/strong>, which trades as <a href=\"https:\/\/www.aspireglobal.com\">Aspire Global<\/a>, for failing to comply with its AML obligations. The financial penalty is accompanied by a warning as well as additional conditions attached to the operator\u2019s license.<\/p>\n<h2>The Violation<\/h2>\n<p>The sanction stems from the company\u2019s failure to conduct appropriate due diligence checks on six third-party businesses that used its white-label services.  <\/p>\n<p>In its emerging money laundering and terrorist financing risks update issued in February 2022, the UKGC highlighted the <strong>need for gambling operators to improve their AML policies, procedures and controls<\/strong>, especially if they have white-label partnerships with third-party businesses. <\/p>\n<p>The regulator issued the new guidance after it found that some gambling operators failed to perform adequate due diligence checks in their third-party business relationships. <\/p>\n<p>Under current rules, operators must consider the money laundering risks posed by their business-to-business (B2B) partnerships, including third parties they contract with. <\/p>\n<p>Operators are required to carry out risk assessments based on the jurisdictional location of the third-party entities they\u2019re partnering with, the relevant domestic AML rules they must adhere to, and their transactions with other third-party suppliers, including payment providers and processors. Additionally, the licensee must also conduct sufficient checks on the source of funds of its third-party partners.  <\/p>\n<p>These measures will give assurance to operators that their business partnerships are legitimate, according to the updated guidance.<br \/>\nFollowing a review of Aspire Global\u2019s operations, the <a href=\"https:\/\/www.gamblingcommission.gov.uk\/public-register\/business\/detail\/actions\/39483\">UKGC found that the company had failed to comply with AML rules<\/a> regarding white-label partnerships. <\/p>\n<h2>UKGC Continues to Punish Non-Compliant Operators <\/h2>\n<p>Apart from being handed a six-figure fine and a warning, Aspire Global, which runs 66 websites, has also been ordered by the Commission to take specific action to make sure thorough due diligence checks are carried out going forward.  <\/p>\n<p>The UKGC has this year taken a series of enforcement actions against <a href=\"https:\/\/www.legitgambling.com\/uk\">UK operators<\/a> found to have breached their license conditions. Among those recently hit with huge fines are <strong><a href=\"https:\/\/www.legitgambling.com\/reviews\/sky-bet\">Sky Bet<\/a>, <a href=\"https:\/\/www.legitgambling.com\/reviews\/betway-casino\">Betway<\/a>, <a href=\"https:\/\/www.legitgambling.com\/reviews\/betfred\">Betfred<\/a> and Entain<\/strong> which was slapped with a record penalty of \u00a317 million in August 2022 due to compliance failings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary Aspire Global\u2019s AML failures resulted in a six-figure fine, a warning, and additional license conditions The sanction relates to the company\u2019s white-label partnerships with third-party businesses It is the latest operator to be sanctioned by the UKGC in 2022 The UK Gambling Commission (UKGC) has fined online gaming solutions provider Aspire Global for anti-money [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,2,3,8,5],"tags":[],"class_list":["post-12875","post","type-post","status-publish","format-standard","hentry","category-casino","category-legislation","category-poker","category-sports","category-uk"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UKGC Fines Aspire Global \u00a3237,600 Over Serious AML Failings<\/title>\n<meta name=\"description\" content=\"The UK Gambling Commission has fined online gaming solutions provider Aspire Global for anti-money laundering (AML) failings.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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