In May 2025, the UK Gambling Commission fined Spreadex Limited £2,022,000 after identifying serious failings in anti-money laundering and social responsibility controls. The regulator’s investigation found that the operator allowed customers to deposit and lose large sums without requesting source-of-funds information or carrying out sufficient checks on affordability.
The assessment also revealed that Spreadex relied on customer-provided financial data rather than independently verifying it, and that its systems failed to trigger interventions quickly enough when risk indicators appeared. In one instance, a customer deposited more than £60,000 in a short period and lost around £50,000 within a month, without the operator seeking evidence of the customer’s financial means.
This was the second regulatory action against Spreadex in three years. The first, in 2022, resulted in a £1.36 million penalty for similar weaknesses in anti-money laundering and player protection measures. Following the latest enforcement, the Gambling Commission confirmed that Spreadex must submit to an independent third-party audit to review and strengthen its internal processes.
Spreadex continues to operate under its UK licence. The Commission stated that the failings identified did not demonstrate systemic disregard for the licensing objectives but required “significant improvement” to restore compliance confidence. The case remains one of the most closely scrutinised examples of repeated enforcement within a single licensing cycle.
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