L&L Europe Fined £900,000 By UKGC For Withdrawal Failures

The L & L Europe fine of £900,000 follows a Gambling Commission probe into withdrawal delays, anti-money laundering and social responsibility failings…. Malta-registered L&L Europe has been fined a total of £900,000 (US$1.2bn) by the UK’s regulatory Gambling Commission (UKGC) after an investigation uncovered regulatory failures, including the unnecessary delaying of consumer withdrawals. The UKGC fine stems from failures spanning withdrawals, anti-money laundering controls and social responsibility measures. Among the withdrawal-related failures, the commission found that the operator employed a term and condition stating customers were only permitted to request one withdrawal at a time and could not request a…