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Online Casinos in general: Videoslots and Casumo fined by UKGC

Topic created on 30th Nov. 2018 | Page: 1 of 5 | Answers: 44 | Views: 12,491
Begbie
Elite

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 01:58 pm CET#1
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https://totallygaming.com/news/online/casumo-and-videoslots-fall-foul-uk-regulator?utm_source=newsletter&utm_medium=email&utm_campaign=pardot

harmony should read through ^^

german translation:

Videolots and Casumo have been fined in the UK Gambling Commission's crackdown on money laundering and social responsibility checks.
Casumo has been fined £5.85 million for serious failings identified in the Commission's investigation, while Videoslots has agreed to pay £1 million in compensation.
"I hope today's announcement will make all online casino operators take notice, as our investigation has found that a large number of operators and their management are failing to meet their obligations," said UKGC CEO Neil McArthur.
"It is not enough to have policies and procedures in place," he said. "Everyone in a gaming business needs to understand their policies and procedures and take responsibility for ensuring they are properly applied."
The assessment of Casumo's operating practices found a lack of appropriate Risk assessment procedures. It was also found to have failed to conduct due diligence on customers, and therefore did not know where some customers' funds came from, and could not identify signs of Gambling addiction in others.
In addition to his fine, a qualified money laundering reporter must also be appointed to complete annual refresher training alongside his senior management and key staff. Money laundering prevention and social responsibility processes must also be subject to regular external audit.
Videoslots failed to correctly identify the source of customer funds, resulting in a single Deposit of around £211,000 and a loss of around £45,000. Another was able to deposit around £17,405 in stolen money, although his identity was not verified.
In one case, a customer was able to deposit £412,000 without Videoslots intervening at any point.
As a result, key anti-money laundering training must also be conducted each year. In addition, £12,000 was paid towards the Gambling Commission's investigation costs.
The regulator warned that further action was likely. As the ongoing investigation had already fined Stride Gaming's Daub Alderney £7.1 million earlier this month. Nine operators have been warned about their future behavior, and six are still under investigation. Another company, Dr Vegas operator CZ Holdings, surrendered its UKGC license following a review of its business practices.
The regulator has also taken action against individuals, with three personal license holders surrendering their certification, four warned and two sent letters informing them of their future conduct. Three other license holders are still under investigation.
McArthur added, "Everyone in authority needs to know that we don't just go after businesses when we take regulatory action - we will also hold individuals accountable if they are responsible for an operator's mistakes."

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MisterL
Expert

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 02:05 pm CET#2
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what do they do with all the fines? fill up the city coffers? collect their share? all hypocrites

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Anonym

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 02:17 pm CET#3
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Funnily enough, these are the two casinos that control me with the most persistent that I'm good once the deposit. Really always!

But that's exactly it..at the payouts there look the...quite closely..grad with the large sums...With the deposits that does not interest the...Main thing coal comes in. Exactly this practice denounce yes many here...

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Sunnyundflo
Top Member

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 02:27 pm CET#4
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So Videoslots has requested nothing from me ...
Ok were also only 300 euro ...

But what surprised me yesterday at BoaBoa casino played what won . payout requested and today without checking without anything came the mail
Dear XXXXX

We are pleased to inform you that the payout in the amount of 500 Euros was successfully processed by our financial department through the Entercash payment method after your request.

If you have any further questions, please contact us by email support@boaboa.com or by Live Chat .

Sincerely,
Finance BoaBoa.com

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Marqes
Expert

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 02:29 pm CET#5
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How it's always about millions in contributions.should also hurt.

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Latino
Experienced

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 02:48 pm CET#6
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@Begbie:

Harmony should have a read ^^

This is something completely different than Harmony's case - the penalties are about unusually high deposits where the identity was not checked .

Harmony is about withdrawals which are checked to an excessive extent.

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Daniel
Elite

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 05:02 pm CET#7
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Latino wrote on 11/30/2018 at 2:48 pm: @Begbie:


This is quite different from Harmony's case - the penalties are about unusually high deposits where the identity was not checked .

Harmony's case is about withdrawals that are checked to an excessive extent.

In the case of Videoslots, I say that the wrong people were punished there. The same is true for LeoVegas as well in my opinion. Videoslots is customer friendly and more reliable than 90% of all Online Casinos as far as payouts are concerned. No Verification hassles. At casinos like Videoslots ; SlotsMillion ; sunmaker or sunnyplayer but also at LeoVegas and Mr Green you just know that you will get your money in the end and problems are extremely rare. And that is exactly how it should be.


Lapalingo does not even have a UK license. If they did, they would probably have been fined the equivalent of Greece's national Debt by the UK Gambling Commission in the past - at least if these accusations are true: https://www.gamblejoe.com/forum/sonstiges/sonstiges/die-wahrheit-uber-casinotest24-18726/

Unfortunately, I cannot judge whether the "Source of Wealth" checks at Harmony are really legally mandatory. But from the 15th of December probably starts with us a lawyer, which can take care of such things professionally. I am looking forward to that. If this works out, then a dream comes true for me, which I already had since I wrote the first line of code for GambleJoe.

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Latino
Experienced

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 05:34 pm CET#8
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@Daniel:
In the case of Videoslots I say the wrong people were punished there.

If you have accepted payments in the amount mentioned without the alarm bells then that is m.M.n more than negligent - only the amount of the penalty I find excessive. Videoslots is also my "favorite casino" and can only report good things about them, but in this case I can at least understand the guilt. I can not understand the penalty in which stolen money was deposited, because this is certainly not so easy to establish beyond doubt - although I still wonder how to Deposit stolen money. As far as I can remember (I'm not quite sure now) that in case of a Verification (in case of a cashout) always the bank account had to be verified with which I deposited. To use another bank account for withdrawal, this had to be verified separately - and here all accounts would have to match the specified data of the account.


But from the 15th of December we will probably have a lawyer who can take care of such things professionally. I am looking forward to it. If this works out, it will be a dream come true for me, which I have had since I wrote the first line of code for GambleJoe.

I think that's great ! I'm glad to read the opinion of a professional and I'm sure it brings some light into the darkness of questions that could not be answered conclusively in the end.



Edit:Typo

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Falko
Icon

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 06:34 pm CET#9
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Maybe from the stolen cash several Paysafe cards gradually purchased and so this money deposited ? So it would also go and no authority or bank gets what with

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Nickii45
Expert

Videoslots and Casumo fined by UKGC

30th Nov. 2018, at 09:08 pm CET#10
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Daniel wrote on 30/11/2018 at 17:02
In the case of Videoslots, I say the wrong people were punished there. The same is true for LeoVegas as well in my opinion. Videoslots is customer friendly and more reliable than 90% of all Online Casinos as far as payouts are concerned. No Verification hassles. At casinos like Videoslots ; SlotsMillion ; sunmaker or sunnyplayer but also at LeoVegas and Mr Green you just know that you will get your money in the end and problems are extremely rare. And that is exactly how it should be.


Lapalingo does not even have a UK license. If they did, they would probably have been fined the equivalent of Greece's national Debt by the UK Gambling Commission in the past - at least if these accusations are true: https://www.gamblejoe.com/forum/sonstiges/sonstiges/die-wahrheit-uber-casinotest24-18726/

Unfortunately, I cannot judge whether the "Source of Wealth" checks at Harmony are really legally mandatory. But from the 15th of December probably starts with us a lawyer who can take care of such things professionally. I am looking forward to that. If this works out, then a dream comes true for me, which I already had since I wrote the first line of code for GambleJoe.

i have to comment on ...... yes you get the money from sunmaker most of the time but you can also Deposit thousands a day without them asking where the money comes from.... >:O
and whether sunmaker is so serious I ask myself today...... and mr green is also a topic for itself.... but I have taught me a better.... the casinos are not really but maybe you should draw certain game masters to account.... white does not fit here, but it is also obvious that certain game masters build errors......

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