The leading sportsbook in the UK is going through hard times, as the Gambling Commission found them guilty and fined them for £600,000. Surely, FSB is not going down from this but the Gambling Commission is tough and this is a warning for every operator in the UK. One of the best operators in the UK is the Vbet Sportsbook.
A recent investigation was finding FSB guilty in money laundering, irresponsible advertising, and social responsibility failings. The UK Gambling Commission is surely going to use this money to support GambleAware and other purposes. Obviously, after the investigation, FSB made sure to have more supervision over their third-party sites, where the issue originates from.
The reason why the Gambling Commission is tough on FSB
FSB had contracts with white-label, third party operators. However, they were failing to take proper measures to ensure that their partners are fulfilling the requirements of license conditions. An investigation going on from 2017 to August 2019 was determining that third-party sites didn’t have effective AML. Furthermore, they couldn’t follow social responsibility policies.
The wrongdoings were including the fail of checking customer interactions and the sources of funds. They were also sending a marketing e-mail to 2324 users, who were self-excluded previously. Self-exclusion is a way to protect gamblers with gambling problems. Furthermore, there was also an inappropriate banner that was advertising a site with copyright issues and cartoon nudity.
FSB is improving its services after the investigation
After the regulations, FSB was stating on gambling insider that they were improving their services as it follows. “Following the investigation, FSB implemented a series of significant improvements to AML, customer interactions, safer gambling, and due diligence processes. As a result of these changes, FSB is able to meet the high standards set by the Gambling Commission across all areas of the business.”
Gambling Commission is tough on FSB – It is also a warning for other operators holding a license in the UK
The moral of the story is that if you manage to get a license from the Gambling Commission you must take care of managing everything properly. The UK has one of the best gambling regulations throughout the world, however, they also set high standards. This is also a warning for other operators to manage third party sites properly. If you are interested to register to some casinos or sportsbooks on the UK market, first check out our online gambling bonus search engine. One of the best operators for example who are holding a UK gambling license is Vbet. Check out their offers in our deal finder section.
While gambling regulations seem to be tough sometimes, they are very necessary for the market to work well balanced. Regulations can come really handy in the means of tax income for a certain country. New Zealand for example just standing in front of new gambling industry regulations. If they can carry out a well working system, then people will not be forced to turn to offshore casinos and the state will receive huge income from taxation. If you are interested in the gambling consultation in New Zealand, then check our article about it.
