The Gambling Commission have decided that yet another fine was warranted this week. FSB Technologies, which describes its business as “omnichannel betting & white label gaming business in a single scalable platform”, was found to be neglecting social responsibilities and anti money laundering regulations.

Before looking into the fine handed down, it’s worth considering the complexity of this business and many others, they are technology powerhouses that run services for other business to spin up many websites, brands and unimaginable scalability, which in itself, in our opinion at Gamvisory, is not a model which can easily hold up to accountability for every brand using the tech. This places this type of business into a high risk category and we should all keep watching for similar situations to this case being highly likely to reoccur.

The fine given was relating to two specific situations:

  1. A player that had already shown signs of being a “problem gambler” was able to deposit £282,000 over an 18 month period.
  2. A marketing campaign was sent to 2,324 customers directly, each customer had already self-excluded, the VIP manager that sent the campaign out had not even being sufficiently trained in Anti Money Laundering practices.

For these failings in its judgement, marketing and processes, FSB Technology agreed to pay a settlement with the gambling commission to the value of £600,000, the money was directed towards the National Strategy to Reduce Gambling Harms fund, as well as a further £34,300 to cover the costs of the Gambling Commission incurred during the review.

With the money now in this fund it will be interesting to see if The Gambling Commission will give further clarity into where the fund will allocate this money. We will be reaching out to The Gambling Commission in due course to ask.

FSB is also now holding a licence which includes additional conditions to ensure it conducts risk-based due diligence on all of their third party partners. Regarding the FSB’s personnel management license, the Commission is still in the process of reviewing their actions, we hope to hear of further updates soon.