{"id":63,"date":"2024-06-12T18:09:38","date_gmt":"2024-06-12T15:09:38","guid":{"rendered":"https:\/\/reddognodepositbonuscodes.icu\/2024\/06\/12\/uk-gambling-company-10bet-fined-620000-for-aml-and-social-responsibility-failures\/"},"modified":"2024-06-13T12:17:27","modified_gmt":"2024-06-13T09:17:27","slug":"uk-gambling-company-10bet-fined-620000-for-aml-and-social-responsibility-failures","status":"publish","type":"post","link":"https:\/\/reddognodepositbonuscodes.icu\/2024\/06\/12\/uk-gambling-company-10bet-fined-620000-for-aml-and-social-responsibility-failures\/","title":{"rendered":"UK Gambling Company 10Bet Fined \u00a3620,000 for AML and Social Responsibility Failures"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/jH-R9NKReVQ\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A UK wagering company, 10Bet, has received a substantial penalty of \u00a3620,000 (approximately $748,000) for neglecting anti-money laundering and social responsibility regulations. The UK Gambling Commission, the industry regulator, imposed the sanction on Blue Star Planet Limited, the entity operating the 10Bet brand.<\/p>\n<p>This goes beyond a mere reprimand \u2013 the Commission unearthed significant shortcomings. Their inquiry, initiated in September 2021, exposed major weaknesses in Blue Star Planet&#8217;s safeguards against money laundering and mechanisms designed to shield at-risk patrons. These concerns surfaced during a compliance evaluation in June 2021.<\/p>\n<p>In essence, Blue Star Planet faltered on several fronts regarding the execution of anti-money laundering policies and procedures. They also fell short in upholding responsible gaming practices. The Gambling Commission highlighted specific breaches of their licensing terms, including lapses in implementing anti-money laundering protocols between November 2019 and June 2021.<\/p>\n<p>On a positive note, the \u00a3620,000 penalty, part of a resolution between Blue Star Planet and the Commission, will be allocated to philanthropic endeavors. <\/p>\n<p>Britains data protection authority, probably the Information Commissioner&#8217;s Office (ICO), issued a substantial financial penalty to Blue Planet Limited, a business that seemingly engaged in excessive nuisance marketing calls.  Rather than settling the entire sum, which would have been a significant blow, Blue Planet chose to contribute \u00a3620,000 to charitable organizations \u2013 a strategic decision to preserve their reputation and avert negative publicity.  Furthermore, they were obligated to remit over \u00a33,500 to cover the expenses associated with the inquiry. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A UK wagering company, 10Bet, has received a substantial penalty of \u00a3620,000 (approximately $748,000) for neglecting anti-money laundering and social responsibility regulations. The UK Gambling Commission, the industry regulator, imposed the sanction on Blue Star Planet Limited, the entity operating the 10Bet brand. This goes beyond a mere reprimand \u2013 the Commission unearthed significant shortcomings. [&hellip;]<\/p>\n","protected":false},"author":101,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>10Bet Hit With Hefty Fine for Neglecting Regulations<\/title>\n<meta name=\"description\" content=\"UK betting firm 10Bet, operated by Blue Star Planet Limited, faces a \u00a3620,000 penalty for serious breaches of anti-money laundering and social responsibility rules. 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