France's National Financial Sanctions Committee (CNS) fined a licensed online sports betting operator and two senior executives in July for breaching asset-freezing rules designed to prevent money laundering and terrorist financing. The regulator ANJ published the decision this week with names anonymised.
The operator, identified in documents as GU, received a two-month suspension and a €20,000 fine. The former CEO and head of the parent staffing company, referred to as Monsieur AB, was fined €20,000 and banned from managing online betting operations for two months. The operator's compliance director, Madame BG, received a similar ban and a €5,000 fine. The company owner and lawyer avoided sanctions.
The breach occurred on 3 December 2023 when the operator opened an account for a player listed in France's register of individuals whose assets must be frozen. An automated system flagged the account the same day, but the operator did not confirm the match until 14 December — eleven days later. ANJ notified GU and opened an investigation on 3 January 2024. The account was closed on 4 January.
CNS found two core failures. First, GU lacked effective systems and procedures to apply asset-freezing obligations promptly, violating articles L.562-4-1 and R.562-1 of France's monetary and financial code. Second, the operator failed to notify the economy minister either on 3 December, when human error and a false positive occurred, or on 4 January after the account was closed. French online operators must meet strict AML and counter-terrorist financing requirements; earlier this year ANJ issued practical guidance on detecting and responding to player fraud.
