Videoslots fined £2.0m by GB Gambling Commission for social responsibility and AML failures
Videoslots has been ordered to pay £2.0m by the GB Gambling Commission for a range of regulatory breaches, including failure to implement effective anti-money laundering processes.
The GB Gambling Commission has ordered Videoslots to pay £2.0m for various social responsibility and anti-money laundering (AML) failures identified during an investigation conducted between October 2019 and February 2022.
The regulator found that Videoslots did not undertake responsible gambling reviews adequately, failed to identify customers at risk of harm, and did not implement appropriate AML processes.
Videoslots accepted the breaches and, despite taking steps to rectify the issues, agreed to a financial settlement of £1.5m, divestment of £494,842, and payment of investigation costs amounting to £11,308.