One of the top online bookmakers
Betfred was featured in a recent gambling scandal. Gambling Commission responsible for industry regulations and policy abidance carried out an investigation on the purity of bookmaker’s procedures according to the regulations.
It was found that Betfred failed to conduct a proper funds source check for one of its customers over a short period of time. A customer appeared to deposit a total of £210,000 over a 12-day period in November 2017, while losing a solid £140,000.
A story broke out when a customer was convicted of a £2 million fraud. The person whose name is kept secret was spending stolen money via several bookmakers, among which was Betfred.
A company that operates Betfred announced that it will return lost funds to victims, while also pay an additional £182,000 towards the development of activities led by the Gambling Commission to reduce gambling harm.
Both sides seem to find an understanding of what has to be done in the future to prevent such behaviour.