Taichi Tech Limited
The UK Gambling Commission fined Taichi Tech Limited £170,000 on 17 April 2025. The penalty addresses failures in the company's anti-money laundering, social responsibility, and marketing practices.
Summary
Financial Penalty
£170,000
What This Means for Consumers
Taichi Tech Limited is still licensed, so customers can continue to use its services. This action doesn't mean the site is unsafe, but it shows the regulator is monitoring the company's compliance closely.
Full Details
On 17 April 2025, the Gambling Commission imposed a £170,000 financial penalty on Taichi Tech Limited. The operator, which trades as Fafabet, received the penalty following a regulatory review. The Commission found multiple breaches of its licence conditions.
The investigation uncovered several compliance issues. These included breaches related to fair and transparent terms (Licence Condition 7.1.1) and the prevention of money laundering (Licence Condition 12.1.1). The regulator also found that Taichi Tech Limited failed to comply with social responsibility rules for customer interaction (SRCP 3.4.1) and marketing (SRCP 5.1.9).
In addition to the fine, the Commission attached a new condition to the company's licence. Taichi Tech Limited must now undergo a third-party audit within 12 months. This audit will check if its anti-money laundering and social responsibility controls are being implemented effectively. The regulator noted that the operator cooperated with the investigation.
Key Findings
- Financial penalty of £170,000 for licence breaches.
- Action concluded on 17 April 2025.
- Failures in anti-money laundering, social responsibility, and fair terms.
- Ordered to complete a third-party audit of its safety controls.
Timeline
| Action Date | 17 April 2025 |
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