Irish betting operator Boylesports has learned the hard way that its UK market expansion comes with some pretty serious compliance strings attached.

On Wednesday, the UK Gambling Commission (UKGC) announced that it had imposed a £2.8m fine and additional license conditions on Boylesports Enterprises after an investigation revealed “a series of money laundering failures” at the operator’s UK-facing online sports betting and casino sites.

Specifically, Boylesports was determined to have “failed to have an appropriate money laundering risk assessment in place” and its anti-money laundering (AML) policies, procedures and controls “were unsuitable and therefore could not be implemented effectively.” Boylesports also “failed to comply with elements of the Money Laundering Regulations.”

In addition to the financial penalty, the UKGC has instructed Boylesports to ‘maintain the appointment’ of an “appropriately qualified” Money Laundering Reporting Officer (MLRO), who will be required to hold a Personal Management License (PML).