A String of Compliance FailuresĨ88 has struggled with compliance in recent years. Gamblers in other states probably know it better as the technology supplier for SI Sportsbook, and Delaware’s lottery-operated online casinos. It operates under its own brand only in the New Jersey online casino and sports betting market.
It has a more limited presence in the US market, however. It does, however, mean it found that it had not taken adequate steps to ensure it didn’t.Ĩ88 is a major international online gambling operator. Contrary to some reports, this doesn’t necessarily imply that the company suspects money laundering occurred. The announcement specifies that the compliance failures involved anti-money laundering (AML) and know-your-customer (KYC) policies. The internal investigation revealed that the company had not followed “certain best practices” related to those accounts. That morning, the company released a regulatory announcement stating it had suspended VIP accounts in the Middle East region. The company’s share values plummeted 29% in early trading on Jan 30. 888 Holdings is facing a crisis sparked by an internal investigation into suspected gray market compliance failures.
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