Sanction
Taichi Tech Limited
Details
Following a review of the operating licence undertaken against Taichi Tech Limited t/a Fafabet (“the Licensee”) the Commission found that the Licensee:
- Breached paragraph 1 of Licence Condition 7.1.1 - Fair and Transparent terms and practices
- Breached paragraphs 2 and 3 of Licence Condition 12.1.1 - Prevention of money laundering and terrorist financing
- Failed to comply with paragraphs 1, 4, 5, 8, 9, 11, 12 and 13 of social responsibility code provision 3.4.1 - Remote Customer Interaction
- Failed to comply with paragraph 2 of social responsibility code provision 5.1.9 - Other marketing requirements.
- In addition, Officials consider the Licensee failed to adequately consider Ordinary Code Provision 2.1.1 - Anti Money Laundering Casino.
Failure to comply with a social responsibility code provision is a breach of a licence condition by virtue of section 82(1) of the Gambling Act 2005.
In line with the Commission’s Licensing, compliance and enforcement policy statement, the Indicative sanctions guidance and the Statement of principles for determining financial penalties, the Commission has decided to:
- attach an additional condition to the Licensee’s operating licence under section 117(1)(b) of the Act requiring the Licensee to conduct a third-party audit within 12 months of the conclusion of the review, to examine whether the Licensee is effectively implementing its anti-money laundering and social responsibility policies, procedures and controls;
- impose a financial penalty of £170,000 under section 121 of the Act.
The Licensee co-operated with the Commission throughout the investigation and took corrective steps to address the identified failings.