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Isle of Man commission bars Boldwood owner from regulated gambling sector

Enforcement & compliance

The Isle of Man Gambling Supervision Commission has prohibited Phua Cheng Wan, owner of Boldwood Software, from roles in the island’s regulated gambling sector. The order remains in force indefinitely unless Phua successfully applies to have it varied or revoked; Boldwood surrendered its licence after receiving a notice and enforcement report from the commission.

The order bars Boldwood’s owner from participating in the Isle of Man regulated gambling sector unless the commission changes or revokes it.

Earlier fines and penalties by GSC

DateCompanyAmountStoryAppeal status
Celton ManxGBP 3,940,000Isle of Man GSC imposes GBP3.94m penalty on Celton ManxNot stated
SK IOMGBP 70,000GSC fines SK IOM £70,000 for AML and counter-terrorism control failuresNot stated
Ableton Prestige Global, Amiga EntertainmentNot statedIsle of Man police raid two gaming companies in money-laundering investigationNot stated
Betsson, BMO ManxGBP 700,000Isle of Man GSC fines Betsson subsidiary BMO Manx £700,000Not stated

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