Online operator Videoslots Limited handed massive $849K fine

An online gambling operator has been slapped with a £650,000 (roughly $848,757) fine after the UK-based Gambling Commission found failures in an investigation.

The company, known as Videoslots Limited, runs websites including videoslots.co.uk, mrvegas.com, and megariches.com, and they’ve been told they will also receive a warning alongside the fine.

Due to the outcome of the investigation, the company must undergo a third-party audit too to ensure it is implementing its anti-money laundering and safer gambling policies, procedures and controls. This all comes after the Gambling Commission’s investigation which they say reveals anti-money laundering and social responsibility failures.

According to the regulator, the social responsibility failures primarily stemmed “from a reliance on systems which did not effectively monitor customer activity to identify harm or potential harm associated with gambling.”

An online gambling business, Videoslots Limited, is to pay £650,000 after a Commission investigation revealed anti-money laundering (AML) and social responsibility failures.

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