UK gambling operators need to mind their white-label partners’ activity unless they want to make six-figure financial settlements with the local regulator.
On Wednesday, the UK Gambling Commission (UKGC) announced that online gambling technology provider FSB Technology had agreed to pay £600k to atone for “advertising, money laundering and social responsibility failings” on behalf of three of FSB’s third-party licensees, whose identity the UKGC didn’t disclose “for legal reasons.”
Last August, the UKGC announced that it had put FSB’s license under review based on suspected shenanigans by its Blackbet white-label partner. FSB subsequently announced that the UKGC had “expressed concern over the levels of due diligence performed on a small number of our white label partners.”
UKGC executive director Richard Watson said Wednesday that FSB’s offending licensees had committed “blatant breaches of rules we have put in place to ensure gambling is fair, safe and crime-free.” Watson further warned that the UKGC would “hold all licensees fully responsible for third-party relationships” and licensees “that do not manage third parties appropriately” should expect a trip to the regulatory woodshed.