Paddy Power Betfair has been fined £2.2m for failing to stop stolen money being gambled through its website and for failing to protect customers showing signs of problem gambling. The Gambling Commission said the bookmaker's failings meant "significant amounts of stolen money flowed through their exchange". The regulator added that this was "simply not acceptable". Paddy Power Betfair apologised and said it had strengthened its procedures. A Gambling Commission investigation also found that the bookmaker failed to adequately interact with customers who were displaying signs of problem gambling "These failings all stem from one simple principle - operators must know their customer," said Richard Watson, Gambling Commission executive director. "If they know their customer and ask the right questions then they place themselves in a strong position to meet their anti-money laundering and social responsibility obligations."

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