FORMER Halesowen-based online gambling firm In Touch Games has surrendered its licence to operate.

The firm moved to Great Charles Street in Birmingham from its base at Fountain House, Halesowen, in December and axed around 50 staff after being taken over by Skywind Holdings.

It surrendered its Gambling Commission operating licence on September 5.

The move came after the commission, which is the industry regulator, had suspended In Touch Games Ltd's licences to operate in Britain as it carries out a review into the firm under the Gambling Act 2005.

The commission said it suspects the operator failed to follow licence conditions related to money laundering, fair and transparent terms and practices, and reporting key events.

The Gambling Commission has released a statement saying: "Despite the surrender, and as set out in our Licensing, compliance and enforcement policy, the Commission has the power to continue its investigations into ITG.

"It will also consider whether any action is needed against those who hold personal management licences at the operator at the relevant time.

"We expect ITG to carry out an orderly closure of its websites to GB consumers and this includes providing consumers with clear information on how to obtain and withdraw their funds.

"If a customer has questions concerning their account they should contact the operator via its websites."

In Touch Games Limited operates bonusboss.co.uk, cashmo.co.uk, casino.mfortune.co.uk, casino2020.co.uk, drslot.co.uk, jammymonkey.com, mfortune.co.uk, mrspin.co.uk, pocketwin.co.uk and slotfactory.com – can be contacted through its websites.

It is not the first time the firm has been in hot water. In February it was hit with a £6.1m fine after a Gambling Commission investigation identified failures to prevent money laundering and problem gambling.

The £6.1m fine was the third time it had faced regulatory action - in 2019 it paid a £2.2m settlement for regulatory failures and in 2021 it received a £3.4m fine and warning for further failures.

Social responsibility failures included: Not interacting with a customer until seven weeks after they had been flagged for erratic play patterns and extended periods of play.

Accepting a customer’s word they earned £6,000 a month without verifying this after the customer account was flagged due to customer spend and gambling during unsociable hours.

Anti-money laundering failures included: Not adequately assessing the risk of customers who had benefited from a life insurance policy, those with links to high-risk jurisdictions, or those who were politically exposed individuals within its money laundering and terrorist financing risk assessment.

In Touch Games was also found to have not sufficiently considered the Commission’s money laundering and terrorist financing risk assessment or the Commission’s guidance.

A statement on In Touch Games website states: "We regret to inform you that we have taken the difficult decision to surrender our licence with immediate effect and you will no longer be able to deposit and use our services.

"Please be assured that any outstanding balances on your account will remain protected and available to be withdrawn in accordance with our terms and conditions."

In Touch Games has been contacted for comment.