Videoslots, recently rebranded under the Immense Group, has been fined £650,000 and formally warned by the UK Gambling Commission after an investigation found extensive failings in its anti-money laundering controls and safer gambling procedures. The assessment, which covered the period between October 2023 and February 2024, concluded that the operator relied too heavily on automated systems that failed to flag high-risk behaviour. This included rapid deposit activity, escalating losses and insufficient customer interactions despite indicators of potential harm.
The UKGC highlighted several examples where customers exceeded internal review thresholds without triggering meaningful intervention. These cases included losses of £5,000 in under 24 hours and over £7,000 within a short period, demonstrating weaknesses in Videoslots’ monitoring framework. In addition to safer gambling concerns, the Commission identified significant AML issues, including inadequate record-keeping, delayed risk reviews and an over-reliance on algorithmic scoring. One particularly concerning case involved over £75,000 in prepaid voucher deposits across 16 days, followed by transfers to multiple bank accounts, with no timely source-of-funds checks initiated.
Alongside the findings, UKGC director of enforcement John Pierce warned that open-loop digital voucher systems pose heightened risks due to their potential for anonymous funding and complex movement of funds. He urged operators to reassess the controls surrounding such payment methods.
Videoslots CEO Alexander Stevendahl issued a public response challenging aspects of the UKGC’s statement. He argued that some clarifications provided during the process were not included and stressed that no customer exceeded their self-set deposit limit. He also noted that at least one AML case had been proactively reported by the company prior to the review. Regardless of the dispute, Videoslots has implemented all required enhancements and will undergo an independent third-party audit.
This enforcement action reinforces the Commission’s continued focus on risk management and operator accountability within the UK market.
