Gambling Insider: Isle of Man GSC fines SK IOM £70K for AML/CFT breaches, including weak MLRO oversight, poor TM, missing AML reports, and insufficient compliance testing

The fine, originally set at £100,000, was reduced by 30% in recognition of the operator’s early cooperation with the investigation and proactive remediation efforts. Key issues included inadequate resourcing and expertise of the MLRO and AML/CTF Compliance Officer, insufficient monitoring and testing of compliance controls, and the absence of required annual AML/CTF reports…