UKGC Fines Fafabet £170K for Unfair Terms and AML Failures

UKGC fines Fafabet £170K for unfair terms and AML failures

The UK Gambling Commission (UKGC) has fined Taichi Tech, the company operating under the brand Fafabet, £170,000 for multiple regulatory breaches, including the use of unfair terms and conditions that could negatively impact consumers. An investigation by the regulator revealed that Fafabet’s bonus terms included a discretionary clause allowing the operator to “close accounts or withhold winnings” at its sole discretion. The UKGC deemed this cla…

Isle of Man GSC fines operator following AML compliance gaps

The Isle of Man Gambling Supervision Commission (GSC) has imposed a $95,500 civil penalty on licensed operator SK IOM Limited over AML/CFT breaches. The post Isle of Man GSC fines operator following AML compliance gaps first appeared on Asia Gaming News | AGB - Asia Gaming Brief.