The independent MP Andrew Wilkie has warned fines for sports gambling companies that breach their licence conditions are so low they may be counterproductive and sending the wrong message to the $50bn industry.
Ladbrokes was fined $78,540 this week for failing to limit damages caused by former financial adviser Gavin Fineff, who stole millions of dollars from clients to service his gambling addiction. Fineff lost $758,510 with Ladbrokes, which has not returned the money to victims of his crimes.
