{"id":1611,"date":"2020-08-13T10:13:46","date_gmt":"2020-08-13T10:13:46","guid":{"rendered":"https:\/\/www.newbettingsites.co\/?p=1611"},"modified":"2020-08-13T10:13:46","modified_gmt":"2020-08-13T10:13:46","slug":"matchbook-back-in-action-after-ukgc-lifts-suspension","status":"publish","type":"post","link":"https:\/\/www.newbettingsites.co\/matchbook-back-in-action-after-ukgc-lifts-suspension\/","title":{"rendered":"Matchbook Back in Action After UKGC Lifts Suspension"},"content":{"rendered":"
Back in February, popular online betting exchange, Matchbook, had it’s license to trade suspended following some pretty significant failures when it came to customer safety and anti money laundering measures.<\/p>\n
That was six months ago, and on the 7th August the UKGC announced that the suspension had been lifted, meaning that the company were free to get back in the saddle.<\/p>\n
It didn’t take them long to boot the website back up either, because on Wednesday the 12th customers received an email inviting them back to experience the site and the changes they had made.<\/p>\n
It is actually Matchbook’s operating company, Triplebet Ltd., who were on the receiving end of the slapped wrist, but by default Matchbook had to temporarily cease trading.<\/p>\n
The UKGC found the company had failed to comply with social responsibility codes of practice and that it had breached conditions of its licence relating to anti-money laundering measures.<\/p>\n
Two whopping examples involved one bettor who gambled \u00a32million in a single day without any source of wealth checks being carried out, and another concerning an account holder depositing a significant amount of money and withdrawing it the same day without gambling any of it – which is about as obvious as money laundering gets.<\/p>\n
Mark Brosnan, the company’s long term CEO departed mid-suspension, leaving his post voluntarily in May, although he was keen to impress that his resignation had nothing to do with the suspension. Who knows the truth behind that claim.<\/p>\n
For a start, as soon a the UKGC’s investigation began Matchbook engaged the services of performance improvement consultancy Alvarez and Marsal, which shows they were willing to properly invest in getting things right.<\/p>\n
They also had to involve independent auditors to prove that the consultant’s recommendations had been implemented satisfactorily, so it sounds as though a pretty thorough job was carried out.<\/p>\n
By all accounts a lot of the work was done a long time before Matchbook re-opened, but they held off to make sure they really had crossed every ‘t’ and dotted every ‘i’.<\/p>\n