TWO FIRMS FINED A TOTAL OF £4.7 MILLION IN THE IOM FOR AML FAILURES
06/07/2025
IT HAS BEEN REPORTED
Celton Manx, the Isle of Man-based company behind SBOTOP, has been fined nearly £4 million for systemic failures in anti-money laundering (AML) compliance.
The Isle of Man Gambling Supervision Commission (GSC) imposed a discretionary civil penalty of £3,937,500 after an investigation revealed multiple breaches of the AML and Countering the Financing of Terrorism (CFT) regulations.
The investigation found that Celton Manx failed to conduct adequate risk assessments, implement enhanced due diligence for high-risk customers, and maintain sufficient controls to verify customer identities. The company also failed to act promptly on suspicious activities and lacked proper training programs for its staff.
Celton is not alone as the Isle of Man ups AML scrutiny
ALSO, ON JULY 5, IT WAS REPORTED
SK IOM has been fined £70,000 by the Isle of Man Gambling Supervision Commission (GSC) for multiple breaches of the anti-money laundering (AML) and counter-terrorist financing (CFT) regulations.
The investigation revealed that SK IOM's compliance officers lacked the required seniority, expertise, and resources to fulfil their roles effectively. Additionally, the company failed to maintain adequate systems for monitoring and testing AML/CFT compliance.
As a result, SK IOM ceased taking bets from July 2, 2025, and surrendered its Isle of Man license. The company has also engaged an independent third-party consultant to help rectify the issues and has implemented a comprehensive remediation plan.
LAST YEAR
Last year, the GSC also fined CyberHorizon Limited £140,000 for failures in customer risk assessment and due diligence in another early settlement.
The case highlighted deficiencies in record-keeping and technology risk management, suggesting that the company either lacked adequate systems or failed to use them effectively to meet AML/CFT standards.
Such investigations now put the Isle of Man’s standing as a reputable and well-regulated betting jurisdiction at risk, leading to demands for stricter regulations and greater transparency.
CONCERNS EAST AND SOUTHEAST ASIAN CRIMINAL NETWORKS TARGETING THE ISLAND’S FINANCIAL NETWORKS
The Isle of Man government is also concerned about the international reach of East and Southeast Asian criminal networks targeting the island’s financial networks, particularly regarding the gambling sector.
It is mainly wary that its ‘well-established’ extensive financial and gaming sectors are a strong target for exploitation.
In response to growing concerns about money laundering and its potential impact on the Isle of Man's economy, the GSC is reviewing its licensing and supervisory procedures. Government officials have also hinted at a possible tightening of AML rules across the gaming sector later in 2025.
In May 2025, the GSC’s register listed around 80 active online gambling licensees, along with a few land-based bookmakers and casino operators, making the sector a major contributor to the island’s economy, yet also a potential vulnerability if AML safeguards fail.
POLICE RESPONSE
- The Isle of Man Constabulary also reported in June that there are 10 current international money laundering investigations, mainly linked to the e-gaming sector, and
- An estimated £300m has been retained across these operations.
References
SBOTOP owner Celton Manx penalised £3.9m by Isle of Man https://sbcnews.co.uk/featurednews/2025/07/04/sbotop-celton-manx-fined/
Leading Isle of Man gaming firm fined almost £4m for 'systemic' failures https://www.iomtoday.co.im/news/leading-isle-of-man-gaming-firm-fined-almost-ps4m-for-systemic-failures-809336
Celton Manx fined nearly $4 million for AML breaches in Isle of Man ...https://agbrief.com/news/europe/06/07/2025/celton-manx-fined-nearly-4-million-for-aml-breaches-in-isle-of-man-regulatory-investigation/
Gaming operator ordered to pay £70,000 for a series of breaches https://www.iomtoday.co.im/news/gaming-operator-ordered-to-pay-ps70000-for-series-of-breaches-808846
Isle of Man GSC fines operator following AML compliance gaps https://agbrief.com/news/europe/04/07/2025/isle-of-man-gsc-fines-operator-following-aml-compliance-gaps/
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.