TonyBet and Vivaro to Pay Fines for Anti-Money Laundering and Other Failures

Within two days UK Gambling Commission issued two fines. It fined Vivaro on January 17, and TonyBet the next day. Each will pay a few hundred thousand, which isn’t the record figures as this regulator can issue a multimillion penalty.

Vivaro was fined £337,631 for failing to conduct proper source of funds checks, having too high AML trigger levels, and some other related issues.

TonyBet should pay £442,750 for multiple shortcomings, including bad AML practices. In particular, the review found a number of unfair terms:

• Documentation may be requested for ‘all withdrawals’ and not deposits which can potentially hamper payouts.
• TonyBet had the right to confiscate winnings if players failed to provide AML documents within 30 days.
• Accounts were considered dormant after just 6 months, instead of 12.