BREAKING NEWS: In Touch Partners fined £6.1m and loses gambling license.
In a significant development, In Touch Games Limited, an online gambling company, has had its operating licences for Great Britain suspended by the Gambling Commission.
This decision comes amid an ongoing review under the Gambling Act 2005, following concerns that the company may have violated various terms of the Act.
Allegations against the operator include neglecting conditions related to money laundering, failing to ensure fair and transparent practices, and not adequately reporting key events.
The Commission emphasised that during the suspension period, the primary focus should be treating consumers fairly and updating them on pertinent developments.
While the suspension is in effect, consumers can still access their accounts and withdraw funds on the websites operated by In Touch Games Limited, such as bonusboss.co.uk and cashmo.co.uk, among others.
Complete list of In Touch Games Limited casinos that had their license suspended:
As an update, on 5 September 2023, In Touch Games Limited voluntarily surrendered its Gambling Commission operating licence. Despite this move, the Commission retains the authority to continue its investigations into the company.
The Commission will also evaluate any necessary actions against individuals holding management positions during the questionable period.
The company is expected to systematically shut down its websites for GB users and ensure that consumers have detailed instructions regarding their funds. Customers with inquiries are advised to reach out via the company’s websites.
In Touch Games Hit with £6.1m Fine over Compliance Failures.
In a recent Gambling Commission inquiry, online operator In Touch Games has been fined £6.1m due to lapses in social responsibility and money laundering protocols.
The operator, responsible for 11 websites, including bonusboss.co.uk and drslot.co.uk, encountered compliance assessment issues last March. Specific missteps highlighted include delaying interaction with a customer showing irregular play patterns, and not verifying a customer’s claimed income, even after red flags due to excessive spending during odd hours.
On the anti-money laundering front, the firm didn’t correctly account for customers potentially linked to high-risk areas or those with political exposure.
They also fell short in implementing adequate policies and controls in this domain, neglecting both the Commission’s risk assessment and its guidance. For instance, they didn’t ask for a source of funds from customers who had deposited and lost significant amounts within a year.
This isn’t the first time In Touch Games has faced regulatory backlash. In 2019, they settled with a £2.2m payment for regulatory oversights, and in 2021, they were handed a £3.4m fine plus a warning for additional violations.
“Considering this operator’s history of failings we expected to see significant improvement when we carried out our planned compliance assessment. Disappointingly, although many improvements had been made, there was still more to do.”
Commenting on this matter, the Executive Director of Operations, Kay Roberts, remarked on the company’s recurrent non-compliance: “Although many improvements had been made, there was still more to do.” She emphasized that the sizeable £6.1m fine underscores the Commission’s commitment to escalating punitive measures against repeat offenders and warned other operators to take heed.