BetCity Fined Over $ 3 Million by Dutch Regulator for Money Laundering Failures

The Netherlands Gaming Authority (KSA) has hit gambling operator BetEnt, which runs the BetCity brand in the country, with a hefty $3.27 million fine for multiple financial violations.

The company is accused of not checking the sources of income of its customers who lost large amounts of money, with one case involving over 100,000 euros in a single month.

The KSA warned BetCity about these violations in September 2022, but the company did not fix them. Moreover, the KSA found out that the bookmaker did not report suspicious transactions to the authorities and did not conduct timely and adequate investigations into possible money laundering by its customers.

It’s worth noting that BetEnt and its BetCity brand were acquired by the British gaming giant Entain in January 2023.