Boylesports Enterprise offers online betting to UK customers via the Boylesports brand, licenced under the UKGC.
An investigation found the company had failed to have an appropriate money laundering risk assessment, the commission fined Boylesports Enterprise £2.8 million and added conditions to its licence.
The regulator said that during the investigation, Boylesports Enterprise was found to have breached commission rules regarding money laundering on its websites, Boylesports.com and Boylecasino.com.
The additional conditions include maintaining the appointment of a properly qualified MLRO, who holds a personal management licence.
The company must also ensure that the individual appointed gets yearly refresher training and can show evidence of this to the commission.
Boylesports must further ensure that all personal management licence holders, senior management and key control staff get outside anti-money-laundering training and update this training annually.
Finally. the company must also continue to review the effectiveness and implementation of its AML policies, procedures and controls.
