Online Gambling Firm Spreadex Fined ₤ 2m For Social Responsibility

Gambling firm Spreadex has actually been fined ₤ 2 million for cash laundering and social responsibility failings, the regulator said.


The online firm failed to carry out suitable examine a consumer who struck an everyday deposit limit of ₤ 3,340 on 12 occasions over 14 days, the Gambling Commission said.


Despite the high costs over a brief duration, Spreadex's social responsibility interactions included 4 pop-up messages without any human interaction.


Anti-money laundering failures included failing to request for "source of funds" details from a consumer who deposited around ₤ 64,000 into the company within a brief duration.


Operators needs to remain in no doubt: repeated regulative failings will lead to escalating enforcement action


John Pierce, Gambling Commission


The client went on to lose ₤ 50,000 within one month.


Spreadex Limited - which operates from Spreadex.com - will pay a ₤ 2,022,000 penalty for the failings, which took place in between September 2022 and November 2023, and likewise have to undergo a third-party audit.


Gambling Commission stated Spreadex failed to perform suitable examine high spenders (Alamy/PA)


It is the second enforcement action versus Spreadex after it paid a ₤ 1.36 million regulative settlement in 2022, once again for social duty and anti-money laundering failures.


The Gambling Commission's head of enforcement John Pierce said: "The conclusion of this case marks the 2nd time Spreadex Limited has gone through enforcement action.


"Its failure to promote anti-money laundering requirements, delays in essential interventions, and weaknesses in social obligation steps were .


Spreadex Limited to pay ₤ 2 million for social responsibility and anti-money laundering failures.


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- Gambling Commission (@GamRegGB) May 15, 2025


"The operator put unnecessary dependence on customer guarantees about the source of funds, rather than acquiring evidence from independent and verifiable sources, as we would expect. Operators needs to not just execute and keep robust anti-money laundering policies, procedures, and controls, but also act swiftly in response to any indicators of suspicious activity.


"During the review, it was discovered that one customer, revealing markers of damage, was using products throughout locations managed by two various regulators. As the betting regulator, we stress the importance of licensees comprehending and handling cross-channel use in their anti-money laundering and social responsibility policies."


He added: "Operators must remain in no doubt: repeated regulative failings will lead to escalating enforcement action."