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bet365 Receives Fine of £582k From the UKGC for Violating AML, and Social Responsibility
FSB’s UK License under Review Due to Issues with Blackbet
August 25, 2019 Aleksandra Zolotic
After issues emerged surrounding FSB Technology’s white-label partner, Blackbet, the United Kingdom Gambling Commission (UKGC) decided to review FSB’s license to operate. The investigation was initiated under Section 116 of the Gambling Act, which gives the regulator the power to launch an inquiry if it suspects that license conditions are or have been breached.
FSB Technology (UK) Limited has voluntarily discontinued activities on its Blackbet website. The suspension of the platform will not prevent the operator from paying out customers.
Voluntary Suspension
UK Gambling Commission released a brief statement announcing that “due to regulatory concerns” FSB Technology (UK) Limited will be investigated. In case the regulator decides to carry out a review of an individual certificate there are procedural requirements to ensure that the license holder can participate in the review.
Blackbet casino and sportsbook…
…has voluntarily suspended all activities, becoming the second issue for FSB within the region. Just a while ago, upon Sunday Times’ examination of a fellow white-label partner, 1xBet shut down its UK-facing site.
1xBet was accused of being involved in a series of unlawful activities among which advertising on inappropriate platforms, offering betting services on cockfights and under 19 athletic competitions.
Grounds for Investigation
If the regulator finds it necessary to “review any matter relating to an individual operating license”, Section 116 of the UK Gambling Act defines that such activity can be performed under the following circumstances:
- If the Commission suspects that conditions of an operating license are being breached.
- If the Commission believes that the license holder or any person connected with the gambling activities, has been convicted of a relevant offense in Great Britain or abroad.
- If the Commission for any reason:
– Suspects that the license holder may be unsuitable to perform the licensed activities.
– Thinks that a review would be appropriate.
As far as clarified…
… the examination can be carried out even if there is no suspicion or belief about the license holder’s activities. Such definition ensures that a certificate could be reviewed solely on the grounds that the operator possesses it for a long period of time, and that the Commission considered a review necessary.
Note to Players
The explanation from Blackbet regarding the site suspension says that the activities gambling activities will be impossible to perform for the foreseeable future. The message displayed on the platform reads as follows:
“We apologize for any inconvenience this may cause but want to assure you that: Any funds currently held in your are safe and can be withdrawn via the ‘My /Withdrawals’ menu. If you have placed any unsettled bets, these will stand up until 23:59 on Tuesday, 27th August when any still unsettled will be made void.”
Source:
“UKGC review leads to Blackbet suspension”, casinobeats.com, August 23, 2019.
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I’m glad that the UK Gambling Commission is doing an excellent job in clearing the industry from the bad guys. Situations like this one are always a good example to operators to mind their behavior.