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The UK Gambling Commission (UKGC) has found that FSB Tech white label partners had breached industry standards on customer interactions. They are now demanding the company pay £600,000 in damages.
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Among the breaches: Industry standards on customer interactions, AML deficiencies, inappropriate advertising, self-exclusion protocols and failure to intervene with problem gambling behaviours.
“We found that whilst FSB did have contractual arrangements in place with its ‘white label’ partners, it did not take sufficient action to ensure they were following the Licence Conditions and Codes of Practice (LCCP),” the Commission explained.
“In addition, FSB had not carried out sufficient due diligence prior to entering into and for the duration of these contractual arrangements with third-party partners to ascertain the suitability of them.”
The company came under previous scrutiny after Taking control of white label partner Blacktype.
Entering 2020, both the UKGC and DCMS stated that a review of technology provisions would be a prominent feature of the government’s review of the 2005 Gambling Act, SBC notes.
The £600,000 will be used to fund the National Strategy to Reduce Gambling Harms, while an additional £34,300 will be paid out to cover the regulatory's investigation costs.
FSB must also “conduct risk-based due diligence with a view to mitigate risk to the Licensing Objectives” for all white label partners with checks conducted no less than one time annually.
- Jagajeet Chiba, Gambling911.com
