Online Gambling Firm Spreadex Fined ₤ 2m For Social Responsibility

Gambling firm Spreadex has been fined ₤ 2 million for money laundering and social obligation failings, the regulator said.


The online company failed to bring out proper checks on a consumer who hit a daily deposit limitation of ₤ 3,340 on 12 events over 2 week, the Gambling Commission stated.


Despite the high costs over a brief period, Spreadex's social responsibility interactions consisted of four pop-up messages with no human interaction.


Anti-money laundering failures included stopping working to request "source of funds" details from a customer who transferred around ₤ 64,000 into the organization within a short period.


Operators needs to remain in no doubt: failings will result in intensifying enforcement action


John Pierce, Gambling Commission


The customer went on to lose ₤ 50,000 within one month.


Spreadex Limited - which operates from Spreadex.com - will pay a ₤ 2,022,000 penalty for the failings, which occurred between September 2022 and November 2023, and also have to go through a third-party audit.


Gambling Commission said Spreadex failed to perform suitable look at high spenders (Alamy/PA)


It is the second enforcement action against Spreadex after it paid a ₤ 1.36 million regulative settlement in 2022, once again for social duty and anti-money laundering failures.


The Gambling Commission's head of enforcement John Pierce stated: "The conclusion of this case marks the 2nd time Spreadex Limited has been subject to enforcement action.


"Its failure to support anti-money laundering standards, hold-ups in necessary interventions, and weaknesses in social responsibility procedures were inappropriate.


Spreadex Limited to pay ₤ 2 million for social responsibility and anti-money laundering failures.


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- Gambling Commission (@GamRegGB) May 15, 2025


"The operator placed unnecessary dependence on consumer assurances about the source of funds, instead of acquiring proof from independent and verifiable sources, as we would anticipate. Operators needs to not only execute and keep robust anti-money laundering policies, procedures, and controls, but also act swiftly in response to any indications of suspicious activity.


"During the review, it was found that a person customer, showing markers of damage, was utilizing items throughout areas supervised by 2 various regulators. As the gambling regulator, we stress the value of licensees understanding and handling cross-channel use in their anti-money laundering and social responsibility policies."


He included: "Operators needs to be in no doubt: duplicated regulatory failings will result in intensifying enforcement action."