Monday, April 15, 2024
12.2 C
Los Angeles

Entain’s BetCity Slapped with €3M Fine by Dutch Regulators for Compliance Lapses

Money LaunderingEntain's BetCity Slapped with €3M Fine by Dutch Regulators for Compliance Lapses
Entain PLC received a €3 million fine from the Dutch gaming authority for its subsidiary BetEnt, known as BetCity, acquired by Entain in January. The fine, issued under the Dutch money laundering and terrorism financing prevention act, pertains to the period between December 2022 and February 2023. According to Dutch law, gambling providers must monitor customer transactions and report unusual activities. Entain, a sports betting and gambling company, is addressing the issue by implementing improvements to BetCity’s procedures and control frameworks. The company emphasizes its commitment to cooperating with regulators for player protection. Entain shares dropped 2.2% to 782.80 pence on Thursday morning in London.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

Check out our other content

Ad


Check out other tags:

Most Popular Articles