A British gaming firm, 10Bet, has received a significant penalty of £620,000 (approximately $748,000 USD) for major oversights. They were deemed insufficient in their efforts to combat financial crimes and safeguard susceptible patrons. These events transpired under the scrutiny of the UK Gambling Commission, who were taking the matter seriously.
Blue Star Planet Limited, the organization operating 10Bet, has consented to the financial sanction and will be directing the funds to charitable organizations. This decision follows a comprehensive inquiry conducted by the Gambling Commission in 2021, which revealed deficiencies in the company’s protocols for matters such as deterring illicit finance and shielding at-risk individuals.
In essence, Blue Star Planet Limited failed on several fronts in adhering to the established guidelines and regulations concerning responsible gaming and anti-money laundering practices.
After an inquiry, the governing agency determined that Blue Planet Ltd. was required to donate £620,000 to a non-profit organization of their selection instead of receiving a formal penalty. Furthermore, Blue Planet Ltd. had to remit £3,571.25 to settle the expenses associated with the examination.