UK Gambling Commission Issues New Enforcement Actions
In the latest wave of United Kingdom Gambling Commission enforcement, we have seen two operators face regulatory action by the UK Gambling Commission. One operator was fined £650,000, while the other has had their licence suspended entirely.
Videoslots Limited Fined £650,000
Most notable is Videoslots Limited (trading under the domain names: videoslots.co.uk, mrvegas.com and megariches.com), whose sites are quite popular, especially among a lot of the low-stakes gambling crowd due to having the ability to select cheaper currencies to play with, like INR, at sign-up.
Videoslots was fined £650,000 and will be forced to undergo a third-party audit by the Gambling Commission for Anti-Money Laundering and Social Responsibility failings.
Examples Highlighted:
- A customer lost £5,000 in under 24 hours despite having a £3,000 monthly deposit limit
- An account was funded with £75,000 in prepaid vouchers over 16 days, with proceeds later being transferred to four separate bank accounts
This regulatory action is hopefully enough.
Deadheat Racing Limited Licence Suspended
In a still emerging story, Deadheat Racing Limited has had their licence suspended by the Gambling Commission while they undergo a review by the Gambling Commission under Section 116 of the Gambling Act.
The key determining factor in this licence suspension was suspected Social Responsibility and Anti-Money Laundering failures, which the Gambling Commission has deemed serious enough to warrant the licence suspension.
