Vivaro Limited Issued £337.631 Regulatory Action

VBet (or Vivaro Limited) is a UK based online gambling company which provides betting services to customers in the UK and Europe. In April 2021, the UK Gambling Commission (UKGC) issued a Regulatory Action against VBet for failing to comply with UKGC regulations. VBet was issued with a monetary penalty of £337.631.

For those not familiar, the UKGC is the regulatory body responsible for the regulation of the gambling industry in the UK. Its main aim is to ensure that gambling is fair, safe and crime-free. The UKGC holds operators to an impeccably high standard of conduct and imposes sanctions where appropriate if operators are found to be in breach of regulations.

In this case, VBet was found to be in breach of UKGC regulations due to its failure to properly verify customers and identify possible money laundering activities. This is a serious offence which could have potentially serious consequences for both VBet and its customers. As such, the UKGC felt it necessary to issue a Regulatory Action in order to demonstrate the importance of compliance with the rules and regulations.

This penalty was imposed to demonstrate that the UKGC takes breaches of its regulations seriously, and to encourage VBet to take proactive steps to improve its compliance and customer verification procedures. The Regulatory Action has also set a precedent for other operators in the industry, demonstrating that the UKGC has a no tolerance approach to any operators who don’t comply with their rules and regulations.

Let this be a warning to all operators – stay in line or the UKGC will impose penalties.

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