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Liberia FIA fines 50/50 Casino operator L$6m over AML controls

Enforcement & compliance

Liberia’s Financial Intelligence Agency fined the operator of 50/50 Casino L$6,000,000 for failures in anti-money laundering and counter-terrorist financing controls. The agency cited deficiencies in customer due diligence, risk-based procedures and onboarding oversight, and ordered a remediation plan by 1 September and details of corrective steps by 1 November.

The fine and remediation deadlines set compliance requirements for the casino operator and signal possible further supervisory action.

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Regulation

UK Gambling Commission flags weaknesses in operators’ AI-based AML controls

The UK Gambling Commission warned that some gambling companies could not explain or properly test AI-based systems used to identify money-laundering and terrorist-financing risks. It found configuration errors, missed risk indicators and cases where compliance staff could not understand why customers were flagged. The Commission said it will assess these tools in upcoming compliance reviews.

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