Negligence in player protection and anti-money laundering: £600,000 fine for FSB Technology
The British gambling company FSB Technologie, founder of Betfair and Sportingbet, has been targeted by the UK Gambling Commission (UKGC) due to serious shortcomings in the areas of advertising, player protection and money laundering prevention.
As the authority announced on its website on Wednesday, various gross violations of the rules had been discovered on the gambling websites of the company’s third-party providers.
On the basis of its business model, however, FSB is responsible for ensuring that all contractual partners offer fair, safe and delict-free games of chance.
The violations reported by the UKGC refer to the period between January 2017 and August 2019. The following points are mentioned:
Inadequate player protection: A customer who had clearly problematic gaming behavior was able to gamble £282,000 within 18 months.
Unauthorized advertising: 2,324 customers who were on a self-exclusion list from gambling would have received marketing emails.
Advertising with prohibited content: Advertising banners with motifs of comics and nudity had been placed.
Inadequate training: A VIP manager had not received the necessary anti-money laundering training and had worked without the necessary overview of his customers.
The authority does not specify which gambling websites are involved. To what extent the UKGC will act against the providers concerned is still under discussion.
A daunting incident for other providers
The UKGC classifies the above violations as extremely serious. For this reason, they wanted to make an example with the harsh sentence to FSB Technology. Richard Watson, executive director of the commission, explains:
All providers should take a close look at this case because it shows that we believe that all of our licensees are entirely responsible for their business relationships with third parties. We will take action against any of our licensees who do not properly maintain their relationships with third parties.
The £600000 that FSB Technology will have to pay will be invested by the agency in its anti-gambling projects.
In addition, UKGC is tightening the existing license agreement with FSB Technology. Additional criteria would be added to better prevent similar violations in the future.
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