Videoslots to Pay £2 Million Over UK Failings

This week the UK Gambling Commission revealed that betting group Videoslots Limited will pay a hefty £2 million settlement over what the regulator is calling a series of different anti-money laundering and social responsibility failures.

Videoslots Limited was found to have multiple anti-money laundering and social responsibility failures related to its operations, which included:

• Not having sufficient staffing to process the volume of data that was incoming to the brands
• Not implementing its own processes to conduct anti-money laundering investigations, related to large delays in conducting AML reviews or requests for sourcing of funds
• Failing to identify if a customer was at risk of gambling-related harm by not considering whether amounts deposited or lost was appropriate
• Allowing gamblers to continue playing, despite showing indicators of gambling-related harm and not changing those behaviours
• Not identifying customers as possibly experiencing risky gambling behaviours due to insufficient processes, or not implementing the processes in a timely manner

Videoslots Limited runs the domains videoslots.com, videoslots.co.uk and mrvegas.com, and has garnered a positive reputation as one of the larger betting brands in the UK. The casino has a large game selection and big jackpots, but has also faced UKGC repercussions in the past for other responsible gambling failings.

Interested readers can find the public statement on the order here.

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