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FSB Technology (UK) Limited

Account number

22201

Head office address

Moray House, 23 - 31 Great Titchfield Street,
London, W1W 7PA, United Kingdom

Regulatory actions

Settlement
What is a settlement?

Following an investigation into a licence holder we may enter into a regulatory settlement. These take place, for example, where the licence holder has been open and transparent with us and has shown a willingness to suggest actions that prevent the need for a more formal sanction.

Decision date: 6 May 2020

Outcomes: Payment in lieu of financial penalty, Commission costs and Public statement

Details of action

The Commission commenced a section 116 regulatory review of FSB Technology Limited (FSB). The review found failings within FSB’s processes which were aimed at preventing money laundering and protecting vulnerable people. Anti-money laundering and social responsibility requirements are expected to be in place to keep crime out of gambling and to protect the vulnerable.

As a result, FSB agreed a regulatory settlement with the Commission, consisting of:

  • £600,000 payment in lieu of financial penalty,
  • new operating licence conditions attached to FSB’s operating licence,
  • agreement to the publication of a statement of facts in relation to this case (this statement can be found here), and
  • payment of £34,300 towards the Commission’s costs of investigating the case.

Agreement to the publication of a statement of facts in relation to this case - with the news story/ public statement being linked off the "a statement of facts".

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