Bookmakers and general Money Laundering on the Dark Web

I can only imagine pal, one of the most profitable shops in the country Iā€™d reckon were itā€™s located alongside the now 3 banks and all those auld man pubs.

Win win for Paddy Power. They can get rid of any liabilities they have on Betfair, increasing liquidity on there and helping their commission.

Hell on earth pal, Iā€™m out of there for two weeks now to the blissful serenity of Father Russell road.

1 Like

Ah youā€™ll be clock watching out there is the only thing, handy to pop into Russellā€™s for a bit of grub though.

1 Like

I will send in the young lad with a few 10c bets. Can they bet as long as they can get an eyeball over the counter and have the readies?

No man they are gone very strict on the under agers coming in, if I see greasy or blemished headed lads waddling in Iā€™m looking for ID!

Had betfair a Dublin office prior to this? A fella I know about three years ago was telling me they offered him a job out of the blue as his CV must have been on file but he had started a new job not long before this and didnā€™t fancy moving to Dublin as he put it.

And thought I saw earlier PP advertising for a new head of trading which I felt they would have sorted, unless they sacked both BF and PP heads at the same time?

You work for PP?

How do you sleep at night.

1 Like

https://youtu.be/GO0JaecRWy0

1 Like

I will have to take steps to support his interest for Cheltenham.

Thurs and Fri of Cheltenham week should be big in the shops this year with the calendar falling as it does

Would you believe Paddys day will be the quietest day of the festival!? I always find champion hurdle day on Tuesday the worst as everyone gets suckered in on the initial buzz and after that it settles down a bit.

2 Likes

What age is the young fella? I understand they are gone very strict on it everywhere in case they are caught in a ruse.

I remember going to the bookies almost as early as i have clear memories and carrying the odd betting slip and money up for my auld fella, getting the change or the winnings and coming back down home. Iā€™d say i used to be going into bookies on my own regularly and having exchanges at the counter from the age of about 6yrs old. Different times.

14

I reckon he has been going to the counter and on-course at least 6 years. Bookies on english courses refused him but no issue in Ireland. Typical bet 2.50 ew or 5 win

Yes, originally in Sandyford with about 20 people before they expanded into the building beside Shelbourne Park where they had a few hundred. Plan was to move everything from Malta to Dublin but they couldnā€™t get people to move from Malta strangely enough. Malta was closed down eventually.

Lads forget the Superbowl match odds, spreads all that stuff. All the ballsy guys are betting on the toss with winner. Even money, but max stake is Ā£20 per account of course.

:joy:

1 Like

Sweep sweep :rollseyes:

Great Britainā€™s Gambling Commission (GC) has identified ā€œserious failingsā€ on the part of Paddy Power in relation to keeping crime out of gambling, with the bookmaker stumping up more than Ā£300,000 as a result.
In a report published this morning, the Commission identified one Paddy Power online customer who was later convicted of a serious criminal offence relating to fraud.

In September last year, the online customer pleaded guilty to fraud offences relating to the theft of more than Ā£250,000 from six customers at two banks where he worked.

The Commission said police confirmed Paddy Power had provided them with information that indicated the man had spent a significant amount on its sites during that time.

The operator said it had social responsibility and anti-money laundering policies and procedures in place, had trained staff and had systems for monitoring internal compliance.

In its report, however, the Commission said Paddy Power had failed to take ā€œreasonable stepsā€ to establish the customerā€™s source of funding.

The Commission asked Paddy Power to investigate the matter to determine whether the case demonstrated any failings in its system for keeping crime out of gambling.

Paddys confirmed the customer opened an account with them on 21 April 2014 and that his high level of spending triggered a need to undertake ā€œenhanced due diligenceā€ in September 2014.

This led to confirmation there was no negative open-source media coverage relating to the customer, but that he had previously bought a house valued at Ā£125,000.

The investigation also revealed that he was not listed on any sanctions registers, however Paddys admitted it made no direct enquiries to the customer about the source of his funds.

The operator said it deemed the customer to be ā€˜medium riskā€™ and recommended that further information be obtained, but this did not happen.

Paddy Power acknowledged it had failed to follow the policies and procedures it had in place for undertaking due diligence checks on customers for its online business.

In its report, the Commission also highlighted two customers at Paddy Powerā€™s land-based betting shops who were laundering money through the bookmaker.

Paddy Power reached a voluntary settlement with the Commission, including agreeing to a third party review of its anti-money laundering controls.

The operator also agreed to amend its policies and procedures to address the shortcomings highlighted in the report, and to pay Ā£280,000 to an agreed socially responsible cause.

Paddys will also pay Ā£27,250 to the Commission to covers its costs in investigating the matter.
In conclusion, the GC said the case provides ā€œvaluable learningā€ for operators who should consider reviewing their legal obligations and to prevent money laundering and better protect customers.

A spokesman for Paddy Power Betfair said the historical failings in the report were ā€œclearly unacceptableā€.
"Paddy Power has since significantly strengthened its internal procedures and staff have been retrained to ensure these procedures are implemented effectively.

"Paddy Power Betfair takes its responsibilities extremely seriously and we have co-operated fully with the Gambling Commission at every stage of this process,ā€ the spokesman added.

Cunts. Take thousand pound and more bets from mug losers and not give a shit where it is coming from. But not lay a bet to thousands of sharp to moderately sharp, basically non mug, punters.

Reminds me of the time they had the manager of the Gorey Post Office in their corporate box for the Europa Cup Final in Dublin. Yer man had been siphoning notes out of the middles of the bundles in work and gambling away. Became a VIP customer turning over hundreds of thousands of euro if not millions. When it came to court, Powers claimed they never questioned where his money came from and knew very little about him :grin:

Yeah they really learned from their mistakes that time. As i say, they are just cunts. Total vermin.