The UK Gambling Commission (UKGC) is on a regulatory roll at the moment, but it’s not a positive one as yet another operator has been fined.
Although we’re yet to reach the midway point of 2020, the British gaming regulator has already collected a record amount from fines.
The latest company to fall foul of its increasingly tough stance on social responsibility is FSB Technology. In a press release issued Wednesday, the UKGC confirmed it had issued the technology provider with a £600,000/$741,000 fine.
Blatant Breaches By FSB Technology
The latest levy is less than Betway and Caesars Entertainment were recently ordered to pay. However, the fact disciplinary action has been taken is no less significant.
Following an investigation into FSB Technology’s third-party activities, the UKGC found multiple operational oversights. Money laundering, advertising, and social responsibility failings were all cited as reasons for the fine.
The same issues have been noted in other recent cases. In this particular instance, FSB Technology failed to monitor its partners and affiliates. As a B2B technology company, FSB licenses out its products to other operators.
However, it still has a duty to ensure B2C regulations are being followed. UKGC executive director Richard Watson said the company didn’t pay close enough attention to what its third-party affiliates were doing.
He even went so far as to say that the incidents were “blatant breaches” of the rules. One of the main infractions involved a customer who was allowed to bet £282,000/$348,000, despite showing signs of problem gambling.
Other issues found between 2017 and 2019 included inappropriate advertising that featured “cartoon nudity.” FSB Technology was also held responsible for 2,324 self-excluded players receiving marketing emails.
UKGC Cracks Whip in 2020
Watson took the opportunity to remind licensees that regulatory failures, no matter how old or seemingly insignificant, won’t be tolerated.
All operators should pay close attention to this case as it shows that we hold all licensees fully responsible for third-party relationships – and we will act against any of our licensees that do not manage third parties appropriately,” Watson said in a press statement.
The UKGC has become the ultimate advocate of high standards in 2020. Although it’s been known as a tough regulator since taking control of remote betting in 2014, it’s stepped things up in recent months.
The hardline approach comes at a time when online activity is booming. Like the rest of the world, the UK has been on lockdown for almost two months. As a result, every major operator has seen an increase in traffic.
The UKGC issued a warning to licensees that now isn’t the time for complacency. It’s followed that with customer guides on how to play responsibly. High-profile fines are also now being used to keep operators in line.
