Paddy Power’s £2.2m fraud fine

PADDY Power Betfair was yesterday fined £2.2million for failing to crack down on money laundering and problem gambling.

A Gambling Commission inquiry found “significant” amounts of stolen money had been bet by two customers through the bookie’s online arm, after it failed to carry out appropriate checks. One punter gambled cash stolen from a dogs’ home.

The inquiry, based on data from 2016, also found three customers had “extensively” bet online and in the bookie’s shops, despite showing signs of addiction.

The firm will give £1.7million to charity Gamble Aware, and nearly £500,000 goes towards repaying the fraud victims.

Richard Watson, of the commission, said: “Operators have a duty to prevent the proceeds of crime from being used in gambling.” Paddy Power Betfair said sorry.