888 Pays £2.9m Settlement in Gibraltar Over Middle East VIP Player Failings

  • 888 suspended its Middle East VIP activities in January
  • Concerns were raised about AML and KYC processes
  • The fallout led to the resignation of 888’s parent group CEO
888 Sport logo on a phone
An 888 subsidiary has paid a £2.9m ($3.7m) settlement to the Gibraltar Gambling Commissioner over VIP player failings in the Middle East.

A subsidiary of 888 has reached a settlement with the Gibraltar Gambling Commissioner for £2.9m ($3.7m) relating to VIP player failings in the Middle East. Virtual Global Digital Services Ltd will pay the money, with some of the funds going towards the University of Gibraltar’s Centre of Excellence for Responsible Gambling.

had to suspend all of its VIP activities in the Middle East

The William Hill-owned operator had to suspend all of its VIP activities in the Middle East at the start of the year due to the commencement of an investigation into subpar anti-money laundering (AML) and know-your-customer (KYC) systems. The fallout resulted in the resignation of the then 888 parent group CEO, Itai Pazner.

As the company’s headquarters is in Gibraltar, the region’s gambling regulator led the probe into the alleged failings. The Gibraltar Commissioner did not identify any specific cases of terrorist financing or people using the proceeds of crime on the 888 platform.

The body acknowledged that the operator straight away commenced an internal compliance review and quickly made improvements to its controls and systems. The Gambling Commissioner said it considers the matter to be at an end and hopes that the learnings will help other licensees avoid a similar fate.

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