Online Gambling Firm Spreadex Fined ₤ 2m For Social Responsibility

Gambling firm Spreadex has actually been fined ₤ 2 million for cash laundering and social obligation failings, the regulator said.


The online company stopped working to bring out appropriate examine a client who hit a day-to-day deposit limitation of ₤ 3,340 on 12 celebrations over 14 days, the Gambling Commission stated.


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


Anti-money laundering failures consisted of failing to ask for "source of funds" information from a consumer who transferred around ₤ 64,000 into the business within a brief duration.


Operators should remain in no doubt: duplicated 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 charge for the failings, which took place between September 2022 and November 2023, and also have to undergo a third-party audit.


Gambling Commission stated Spreadex stopped working to bring out suitable examine high spenders (Alamy/PA)


It is the 2nd enforcement action versus Spreadex after it paid a ₤ 1.36 million regulatory settlement in 2022, once again for social duty and anti-money laundering failures.


The Gambling Commission's head of enforcement John Pierce stated: "The conclusion of this case marks the second time Spreadex Limited has actually gone through enforcement action.


"Its failure to maintain anti-money laundering requirements, delays in essential interventions, and weak points in social responsibility procedures were inappropriate.


to pay ₤ 2 million for social obligation and anti-money laundering failures.


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- Gambling Commission (@GamRegGB) May 15, 2025


"The operator put undue dependence on client assurances about the source of funds, rather than getting evidence from independent and proven sources, as we would expect. Operators should not only execute and maintain robust anti-money laundering policies, procedures, and controls, but also act quickly in reaction to any indications of suspicious activity.


"During the review, it was discovered that one consumer, revealing markers of harm, was utilizing products across areas overseen by two different regulators. As the betting regulator, we stress the value of licensees comprehending and managing cross-channel use in their anti-money laundering and social duty policies."


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