SBOBET holding company fined £3.9 million for AML violations

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Celton Manx, the holding company of Asia-facing SBOBET, has received a £3.9 million (US$5.30 million)1 GBP = 1.3585 USD
2025-07-08Powered by CMG CurrenShift fine from the Isle of Man Gambling Supervision Commission for anti-money laundering and counter-terrorism financing violations.

SBOBET is an Asia-focused site that offers its customers both sports betting and online gaming.

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According to a public statement released by the regulator, Celton Manx forfeited its license from the Isle of Man Gambling Supervision Commission on 9 May 2025.

The investigation, which began in October 2024, found that Celton Manx had failed to ensure its network partners applied the same standards as those required in the Isle of Man.

Despite several violations of the Gambling Anti-Money Laundering and Countering the Financing of Terrorism Code 2019, Celton Manx maintains, after an internal inquiry, that no actual money laundering took place.

The initial fine was £5.6 million (US$7.61 million)1 GBP = 1.3585 USD
2025-07-08Powered by CMG CurrenShift, but it was reduced after the holding company admitted wrongdoing and cooperated with the investigation.

One of the most significant findings during the process was that the company’s anti-money laundering reporting and compliance officers lacked sufficient expertise in their respective roles.

The investigation also found that the holding company failed to properly verify customer identities, conduct enhanced due diligence on high-risk customers, and apply the proper procedures for identifying suspicious activity.

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