Coral Casino enhances its financial practices

Another concern has to do with those financial mechanisms and practices that are supposed to ensure the fact that laundering money through online casinos is virtually impossible, mr green.

Coral Casino ran into trouble one year ago, after the UK gambling commission reprimanded them and another operator for not doing their due diligence, Vera & john

GUTSlogoApparently, the two casinos made it possible for a convicted criminal to launder in excess of €1 million of drug money.

This incident raised considerable concerns and the online gambling community was stunned by the decision, but apparently there are many other casinos who encounter serious problems.

Coral Casino was also accused of negligence and the fact that as a result of enabling the trafficker to launder money through their online business, they also cashed in over €100,000.

This happened in an otherwise straightforward process, because the perpetrator chose to gamble at their online games and lost a lot of money. While the online casino didn’t break the law voluntary, they didn’t do enough to prevent the wrongdoer from playing.

The commission stated that the casino chose to ignore the facts, due to the fact that they recognized the significance of the customer from a commercial perspective and as a result turned a blind eye to his dealings.

This was a highly frustrating and somewhat embarrassing situation for the online operator, who is proud of running a very honest and transparent operation.

As far as the players are concerned, the deposits and withdrawals are handled with the utmost respect for security standards and the same goes for sensitive information.

Members enjoy the highest level of service and for many years, the number kept growing, due to the fact that those who open an account here, are well looked after.

Following the money laundering incident, the gambling commission recommended some amendments to be made and Coral Casino complied with all of them.

Among the changes made is that nowadays the shop-level staff no longer handles the sensitive issues and they have a certain department in charge of performing these actions.

The goal is to make sure that other wrongdoers, willl have a hard time in using the online casino as a vehicle for laundering dirty money.

Coral Casino did far more than that and following the string of changes, they are now one of the safest online casinos and also the most transparent ones, betsoft gaming.

The lessons have been learned and they also decided to settle with the gambling commission, by paying more than €60,000 to the Responsible Gambling Trust and an additional €40,000 to cover the costs of the investigation.

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