The United Kingdom’s Gambling Commission levied a substantial penalty of £620,000 (approximately $750,000) on Blue Star Planet Limited, the operator of the well-known wagering platform 10Bet. Their transgression? A litany of significant shortcomings concerning responsible gaming practices and preventing illicit funds from infiltrating their operations.
This financial sanction, reached through a settlement agreement, will be allocated to support philanthropic endeavors.
The Commission initiated its inquiry back in September 2021, revealing some troubling systemic deficiencies. It became evident that Blue Star Planet Limited was neglecting its duty to protect at-risk patrons and had glaring vulnerabilities in its anti-money laundering safeguards. These issues surfaced during a compliance evaluation conducted in June 2021.
The investigation determined that Blue Star Planet Limited’s anti-money laundering protocols, processes, and mechanisms were riddled with weaknesses. Furthermore, they were falling significantly short in enforcing their own responsible gaming guidelines.
To compound matters, the Gambling Commission discovered that Blue Star Planet Limited had been in breach of several licensing stipulations, including those pertaining to anti-money laundering procedures, for close to two years, spanning from November 2019 to June 2021.
The company, Blue Planet Limited, narrowly avoided a substantial penalty by consenting to a charitable contribution of £620,000. This agreement was reached with regulatory authorities, who also imposed a fee of £3,571.25 on the firm to cover the expenses incurred during their inquiry.
