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Whilst not nearly as much as the fine levied against 888 or bgo, the £80,000 penalty package for Stan James is quite a hit in their pockets.

The Gambling Commission had investigated Stan James following a case where a customer had deposited money that was stolen. The deposits were made between November 2014 and October of last year.

It was found that in this time Stan James online had failed to notice behaviours that were indicative of problem gambling. Additionally they failed to comply with financial requirements that are aimed at stopping money laundering.

Half of the money is going to be returned to whom the money was stolen from and the remained will be the financial penalty levied against Stan James.

The Stan James Regulatory Settlement

You can read the full regulatory statement here but below we summarise.

It was on 29th March 2017 that The Gambling Commission started the regulatory investigation. This was instigated following a police report of an individual who had been convicted of stealing from his employer.

Some of the proceeds from his crime were deposited at Stan James online and he lost a total of £40,000 playing at their site.

Throughout the investigation the company accepted that they did not have a robust system in place to identify problem gambling or prevent money laundering.

The responsible gambling policy was reviewed and found not to meet the required standards. It was also suggested that had there been effective policies, engagement with the customer would have happened sooner.

The contact with the customer in the period between November 2014 and October 2016 was very limited and only saw email contact made with signposting to responsible gambling and social responsibility.

In 2011 the customer in question had self-excluded from the casino products which makes this even more of an issue. A self-exclusion would suggest a need to cool off from gambling, or monetary problems with the suggestion being that the account should have be monitored more thoroughly.