UK Gambling Commission Fines 10Bet Operator £620,000 for Social Responsibility and Money Laundering Failures

The United Kingdom’s Gambling Commission recently imposed a substantial financial penalty on the internet betting site 10Bet. Blue Star Planet Limited, the platform’s operator, was deemed to have failed in its duties regarding social responsibility and measures to prevent money laundering, resulting in a fine of £620,000 (approximately $748,000). This resolution, agreed upon by the firm and the Commission, will see the entirety of the funds allocated to philanthropic endeavors.

Initiated in September of 2021, the inquiry revealed significant deficiencies in Blue Star Planet’s attempts to address money laundering and safeguard susceptible users. From November 2019 to June 2021, the company seemingly ignored numerous licensing stipulations and established protocols. Their anti-money laundering procedures were rife with gaps, and their dedication to responsible gaming practices was deemed insufficient.

After an inquiry, the gaming commission directed Blue Planet Limited to remit £620,000 as a substitute for a penalty. These funds will be gifted to charitable organizations. The firm was also instructed to cover the investigation expenses with an added payment of £3,571.25.