Bookmaker Corbett fined almost £700,000 for regulatory failures

British bookmaker Corbett has been fined almost £700,000 for social responsibility and anti-money laundering (AML) failings, the regulator said.

The Gambling Commission said Corbett had agreed to pay a £686,070 penalty for failures identified during an investigation into the bookmaker’s AML and safer gambling policies, procedures and controls.

In one breach, the company – which operates 36 betting locations in Britain – failed to identify a customer who staked £23,674 in a 13-day period as someone who may be at risk of gambling harm.

Corbett also allowed a customer to stake £47,000 and lose £14,000 during an eight-month period, without verifying the player’s source of funds.

John Pierce, director of enforcement at the Gambling Commission, said: “This operator has failed to adhere to vital regulations designed to make gambling safer and free from criminal activity.

“As a result, it will not only pay a significant fine but also undergo a rigorous audit to ensure full compliance with anti-money laundering and safer gambling measures.

“In addition to the remedial actions already taken, we expect the operator to swiftly and fully implement the audit recommendations, demonstrating clear and measurable improvements in both policy and practice.

“Failure to do so will prompt our compliance team to reassess the situation and take further action as necessary.

“All operators should carefully consider this case and the price this operator is now paying.”

The failings at Corbett Bookmakers occurred between February 2022 and May 2024.

This is the second breach of AML and responsible gambling regulations at Corbett, after the company was fined £216,000 for similar offences in September 2022.