FSB Technology is facing its second investigation from the UK Gambling Commission in two weeks after the regulator announced it is reviewing the company’s operations.
FSB voluntarily suspended all gambling activities on its Blackbet website as a result.
The Gambling Commission referenced regulatory concerns as grounds for instigating the examination under §116 of the Gambling Act. This section provides the Gambling Commission with the opportunity to start a review in the case it receives a report that a gambling company is offering services that are not legally covered by its operating license.
The Gambling Commission may also investigate if it suspects the company is not suitable to continue offering its licenses activities.
David McDowell, FSB CEO and Co-Founder, said: “The Gambling Commission has recently expressed concerns over the levels of due diligence performed on a small number of our white label partners. These partners and FSB are now fully cooperating with the Gambling Commission, and we anticipate a comprehensive resolution of those concerns in short order. This process is isolated to a nominal amount of white label licenses only, and no further impact or site-suspension is expected.”
On 12 August, 1xBet, also on the FSB Technology platform, was shut down in the UK following a Sunday Times investigation.