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

FSB Technology (UK) Limited

Account number:
22201
Decision date:
3 April 2024
Outcomes:
Financial penalty

Details

Following an investigation outside of a licence review, the Gambling Commission (“the Commission”) found that FSB Technology (UK) Limited (“the Licensee”), at a time when the Licensee held a combined remote operating licence, breached: 

  • Licence condition 12.1.1 - paragraphs 1, 2 and 3: Anti-money laundering - Prevention of money laundering and terrorist financing
  • Licence condition 7.1.1, paragraph 1: Fair and transparent terms and practices
  • The Licensee also failed to comply with SRCP 3.4.1 paragraphs 1a, b, c and 2: Customer Interaction. 

The failure to comply with a SRCP is a breach of a licence condition by virtue of section 82(1) of the Gambling Act 2005 (“the Act”).

In line with the Commission’s Licensing, compliance and enforcement policy statement and the Statement of principles for determining financial penalties, the Commission has decided to impose a financial penalty of £29,237 under section 121(1) of the Act.

Commission Officials note the immediate remedial action taken by the Licensee and acknowledge that the Licensee has co-operated with the Commission throughout the investigation. Commission Officials also note the Licensee ceased providing B2C services in May 2022.

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