KSA issues €2m penalty to L.C.S Ltd

KSA issues €2m penalty to L.C.S Ltd

Added:
KSA issues €2m penalty to L.C.S Ltd

Gambling operator L.C.S Ltd has recently received a 2 million euro fine from the Kansspelautoriteit.

The regulatory body stated that it has imposed the 2 million euro fine on the operator for offering its gambling services in the Netherlands without having the appropriate authorization in the form of a license. The Kansspelautoriteit mentioned that the company delivered its offerings on its sonsofslots.com brand in breach of the country’s gambling legislation.

The Kansspelautoriteit mentioned that the size of the penalty was chosen by taking into consideration the operator’s total revenue in the country, in addition to several other factors outlined in the authority’s penalty policies.

Additionally, the KSA mentioned that this is not the first time L.C.S Ltd was issued a penalty in the Netherlands, with the operator’s last fine being imposed just over a year ago in August of last year. The regulator had issued a penalty of 165 thousand euros to the company and had ordered it to immediately stop offering its unauthorized services in the market.

This announcement follows about a month after the Kansspelautoriteit’s previous enforcement action, as part of which the authority issued warnings to two gambling operators for a variety of AML shortcomings.

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