The UK Gambling Commission (UKGC) has issued an official £6 Million fine to the Casumo Services LTD casino company, citing historic failings to intervene with clients losing upwards of a million euros.
A&S Leisure Group Limited, Shaftesbury Casino Limited, Clockfair Limited, Double Diamond Gaming Limited, and Les Croupiers Casino Limited, have also recently been issued fines by the same commission for a variety of oversight failings.
The offering of online gambling by licensed entities is legal in the UK, which means that regulatory commissions like the UKGC hold companies to certain standards. In this case, Casumo failed at their anti-money laundering (AML) and responsible gambling procedures, when they failed to intervene or even respond to no less than five clients who lost incredible sums on their website.
Findings from the commission stated that Casumo allowed one player to lose £1.1 million over the course of three years with no interaction with this client. They also found another gambler who lost £65,000 in just one month, and a third similar case where an individual lost £59,000 in just 90 minutes. In all three cases, Casumo failed to follow up with these clients, set any kind of limits, or have any kind of interaction that would have prevented these extreme losses.
Changes at Casumo After the Fine
Executives at the Malta-based casino provider have cooperated fully with the UKGC and reviewed their policies in accordance with the standards set forth by the commission. Since the fine, Casumo has switched its leadership, installing a new Chief Executive Officer, Shelly Suter-Hadad, who has focused on spearheading a shift in fundamental policies. The commission has confirmed that the company has made the necessary changes.
Suter-Hadad told the media that, “since joining Casumo last year, my focus has been on putting in place a new senior leadership team and Personal Management License holders with extremely strong industry experience and the knowledge and expertise to ensure we are a compliance-led business. In addition, recognizing that key processes fell short in the past, I took immediate action to implement fundamental operational changes so that Casumo is now a gaming group with compliance and responsible gambling at the heart of its business and culture. These efforts, together with our full collaboration, have been formally recognized multiple times by the Commission.”
Casino Providers Have Legal Responsibilities for Ensuring Welfare
According to the UKGC, casino providers must take responsibility for clients not overspending or launching themselves into debt. In countries like India, Casumo, along with other casino providers, require players to submit financial information and proof of income to ensure that players are not spending over their capacity. Failure to do so can result in large losses and potential mental health issues or suicides, as has been seen in cases around the world. These regulations are meant to curb these issues, while still leaving enthusiasts enough room to gamble as a hobby. The UKGC also commented on the lack of spending limits at the casino, meaning that players may deposit and withdraw as much as they wish. The absence of these limits results in players being able to continually lose large amounts, driving those with gambling addictions into serious debts with their banks and credit card companies.
Responsibility Towards Gambling Addiction
Casinos around the world are required to address gambling addictions in a variety of ways, otherwise, they may be denied a licence or issued a severe fine, like Casumo. When players are looking for casinos to sign up to, that is one of the key highlights that separates a “good” casino from an untrustworthy one. Similarly, spending limits and proofs of income are also tell-tale signs that a casino is following the rules. It is not meant to harm or prevent players but protect them.
Casino reviews can also help customers who are looking for a reputable casino with excellent customer service to find good options. Although most Casumo reviews give the provider high marks for their customer service communication, some cases may still slip through the cracks – like the individuals named in the violations. Like any company or brand, casinos strive to communicate and fix minor problems for customers. Searching on Google can help individuals see if a casino brand answers emails and phone calls, or if they are hard to reach. Companies that fail at their customer service or have too many unanswered messages may wind up on the Better Business Bureau page with a failing rating, or else be blacklisted by casino review sites.
As the government commission cracks down on online casinos, customers can expect a safer and better playing experience.