Business
Suspension of 888 VIP customers in some markets
Suspension of 888 VIP customers in some markets.
About this update from Evoke Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 30 January 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n 888 Holdings Plc\n \n \n \n \n (\"888\" or \"the Group\")\n \n \n \n \n \n \n \n Suspension of 888 VIP customers in some markets\n \n \n \n \n \n \n \n \n 888 (LSE: 888) today announces the suspension of VIP activities in certain of its .com markets pending the outcome of an internal compliance investigation.\n \n \n Following an internal compliance review, it has come to light that certain best practices have not been followed in regard to KYC (Know Your Client) and AML (Anti-Money Laundering) processes for 888 VIP customers in the Middle East region. While further internal investigations are underway, the Board has taken the decision to suspend VIP customer accounts in the region, effective immediately. The Board currently estimates that the impact is less than 3% of Group revenues, should the suspensions remain in place. Based on the Board's current understanding, the process deficiencies identified are isolated to this region only.\n \n \n \n Lord Mendelsohn, Chair, commented:\n \n \n \n \n \"The Board and I take the Group's compliance responsibilities incredibly seriously. When we were alerted to issues with some of 888's VIP customers, the Board took decisive actions. We will be uncompromising in our approach to compliance as we build a strong and sustainable business.\"\n \n \n \n \n \n \n \n \n \n \n \n \n Enquiries and further information:\n \n \n \n \n \n \n \n 888 Holdings Plc\n \n \n \n \n +44(0) 800 029 3050\n \n \n \n \n \n \n Yariv Dafna, Chief Financial Officer\n \n \n Vaughan Lewis, Chief Strategy Officer\n \n \n James Finney, Director of IR\n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n Media\n \n \n \n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n Hudson Sandler\n \n \n Alex Brennan / Charlotte Cobb / Andy Richards\n ...