The UK Gambling Commission has fined Video Slots Limited £2m for operators' failure to comply with Social Responsibility and Money Laundering (AML) procedures. The fines imposed after the commission's investigation into the operation of the video slot represent the part agreed with the regulator by the operator.
Malta-based online casino operator of the year 2023, Video Slots Ltd, operates a gaming platform video slot. After checking the platform, we found that the video slot made a series of failures in the responsible game procedure. The Commission also noted that operators failed to implement adequate risk management and due diligence procedures in the AML data process.
The company has reportedly failed to identify players who perform dangerous actions as potentially dangerous targets, a sign of an operator's obligation to perform responsible game reviews in a timely manner, according to rules. The same claims include not evaluating whether the amount deposited or lost by the player was within the responsible game limits. In addition, the operator failed to comply with social responsibility regulations by allowing customers who exceeded the safe gambling limit to continue gambling for a significant amount of money.
The Commission imposed a fine of 2 million based on the above results, in cases where gambling operators fail to comply with the prescribed anti-money laundering process, including when there is a significant delay in implementing risk management procedures in a timely manner. These measures are known to have been introduced at a stage where they cannot be applied effectively.
The failure of the AML procedure in the video slot includes the failure to perform initial due diligence on the customer, which not only improves the platform's processing power, but also ignores the declared risk-based approach. According to the UK Gambling Commission, the failure was due to the lack of AML analytics staff to process data or review AML suspect accounts in accordance with the company's policies and regulatory agency's requirements. 바다이야기
The Commission has informed us that the two million pounds to be collected in an agreement with the company will be used for socially responsible purposes. Video Slots Ltd will therefore add the latest fine imposed by UK regulators to a $10 million fine paid in March to Dutch gaming authority KSA for violating the country's gambling rules. These articles demonstrate that Videoslot's platform is so busy that regulatory failures can occur at any time. Therefore, the company warns you to pay as much attention to compliance with online gaming regulations as possible.