Petfre (Gibraltar) Limited to pay £900,000 for regulatory failures

The UK Gambling Commission announced a regulatory settlement requiring Petfre (Gibraltar) Limited, operator of betfred.com, to pay £900,000 after an investigation found social responsibility failures in its policies and procedures related to identifying and acting on indicators of harm. Failures included insufficient automated monitoring of spend and time, lack of immediate automated action when strong indicators were identified, and a review process that prevented further reviews for seven days, resulting in at least one consumer losing £17,900 within 24 hours.