Non-Compliant Procedures Lead to £2 Million Fine for Videoslots Limited

[MissExposé]

The UK Gambling Commission has fined Videoslots Limited £2 million for its failure to comply with social responsibility and anti-money laundering procedures. The operator was found to have neglected responsible gaming practices and lacked suitable risk management and due diligence measures for AML processes. The fine will contribute to social responsibility programs, and it comes after Videoslots Limited previously paid a $10 million fine to the Dutch gaming authority for similar regulatory violations. These incidents highlight the need for the company to prioritize compliance in its online gaming operations.

Source:

Videoslots Limited To Pay £2 Million Fine for Non-Compliant Procedures

Videoslots Limited is to pay a 2 million pound fine to the UK Gambling Commission for social responsibility and anti-money laundering non-compliant processes.

news.worldcasinodirectory.com

 

[WCB]

They proby made 10x that amount with "Neglecting" the issues lol

 

[Yezz]

Videoslots are the biggest scammers. Already removed them and retention has been zero in spite of having secured well over 1k regs in the past few years. They're probably going to f*** over their affiliates more now and have them pay the fines.

 

[euromill]

Theyve been F****** over Affiliates the whole time - never mind going to to pay for the fine

 

[AussieDave]

VideoSlots.com = Crooks, thieves and criminals.

The wheels of justice may turn slowly, but they are starting to turn, and like the snow-ball down the proverbial hill, those "wheels" are now grinding at the heels of VS.

Affiliates wont get the literally 10's of millions stolen from them, but I can assure you the CEO will be having more than a few restless night and days.

 

[AidanLCFC]

guessing affiliates are going to have to pay for this with even more robbed out of our pockets

 

[Kadabra]

if you are still promoting them then you are paying for it already.

 

[TipAGambler]

To be honest, I am having good conversion rates as well as retention on players promoting Videoslots. Reading all these comments has got me thinking twice, though. I mean, generally, I assume all operators trim where they can. Which do you guys trust better?

 

[Kadabra]

you are making a mistake. i agree, i also assume that all our earnings can be trimmed by any program, however in VideoSlots case you are knowing working with someone who is going to steal all year earnings from some point on. not maybe, but for sure based on their rules that state that if you dont send players, they confiscate your earnings.

i still earn money with them but it's their money as they refuse to pay me as i haven't brought enough ftds to be entitled to get my earnings.

not only that, they are stealing from you now already with 80% or 90% fees.

the more ftds you are sending them now, the dipper the hole you will be in.