Online Gambling Firm Spreadex Fined ₤ 2m For Social Responsibility

Gambling company Spreadex has actually been fined ₤ 2 million for money laundering and social responsibility failings, the regulator stated.


The online firm failed to bring out suitable look at a client who hit an everyday deposit limitation of ₤ 3,340 on 12 celebrations over 2 week, the Gambling Commission said.


Despite the high spending over a short period, Spreadex's social responsibility interactions consisted of 4 pop-up messages without any human interaction.


Anti-money laundering failures consisted of stopping working to ask for "source of funds" info from a client who deposited around ₤ 64,000 into business within a short duration.


Operators ought to be in no doubt: repeated regulatory failings will result in escalating enforcement action


John Pierce, Gambling Commission


The consumer went on to lose ₤ 50,000 within one month.


Spreadex Limited - which runs from Spreadex.com - will pay a ₤ 2,022,000 penalty for the failings, which took place in between September 2022 and November 2023, and also have to undergo a third-party audit.


Gambling Commission said Spreadex failed to bring out suitable checks on high spenders (Alamy/PA)


It is the second enforcement action against Spreadex after it paid a ₤ 1.36 million regulative settlement in 2022, again for social responsibility and anti-money laundering failures.


The Gambling Commission's head of enforcement John Pierce said: "The conclusion of this case marks the 2nd time Spreadex Limited has actually been subject to enforcement action.


"Its failure to uphold anti-money laundering requirements, hold-ups in essential interventions, and weaknesses in procedures were inappropriate.


Spreadex Limited to pay ₤ 2 million for social responsibility and anti-money laundering failures.


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- Gambling Commission (@GamRegGB) May 15, 2025


"The operator put undue reliance on customer guarantees about the source of funds, rather than getting proof from independent and verifiable sources, as we would anticipate. Operators needs to not only carry out and keep robust anti-money laundering policies, treatments, and controls, but also act swiftly in reaction to any indicators of suspicious activity.


"During the evaluation, it was found that a person customer, showing markers of damage, was using products across locations managed by 2 various regulators. As the betting regulator, we worry the value of licensees comprehending and managing cross-channel use in their anti-money laundering and social responsibility policies."


He added: "Operators should remain in no doubt: duplicated regulative failings will lead to intensifying enforcement action."