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  1. Public register
  2. Regulatory action register
  3. Settlement for FSB Technology (UK) Limited
Settlement

FSB Technology (UK) Limited

Account number:
Decision date:
6 May 2020
Outcomes:
Payment in lieu of financial penalty, Commission costs and Public statement

Details

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.
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