The U.K. Gambling Commission has fined Videoslots £2 million for alleged social responsibility and anti-money laundering violations. The company has agreed to pay the fine as part of a settlement, Yogonet reported June 15.
Videoslots runs videoslots.com, videoslots.co.uk, and mrvegas.com.
The commission said that between October 2019 and February 2022, Videoslots failed to identify patrons who were showing risk behaviors. As a result responsible gambling reviews did not happen early, or as well, as they should have. The commission observed that customers showing signs of problem gambling continued to gamble large amounts.
The anti-money laundering violations included not implementing processes the company had itself recommended employing as a result of significant delays.
The commission also concluded that the company’s ability to implement its policies and procedures to fight money laundering and promote safer gambling showed significant weaknesses. It did credit Videoslots with taking steps to rectify these flaws. It added that the company had behaved in a transparent manner and noted that operational effectiveness had been severely impacted during the years of the Covid-19 pandemic.
