The regulator said the issues at the three companies in William Hill Group were so ‘widespread and alarming’ that it considered suspending the group’s licence.

Three gambling businesses owned by William Hill Group will pay a total of £19.2m for social responsibility and anti-money laundering failures for breaching regulations after it allowed customers to deposit large amounts of money without conducting appropriate checks. This is the largest financial penalty ever issued by the regulator.

The holding company of William Hill Group, 888 Group, admitted serious failures, which included allowing customers to lose thousands of pounds within minutes of opening an account.