After installing Windows 10, I had this error for quite some time. I managed to figured it out. It has something to do with Administrative permissions on your Drive (for example: you cant record directly on the Local disc C: D: E: etc.), you have to record in a folder. I hope that I helped to people that have this error. I didn't see a solution on the forum so I decide to post my findings.
Thanks for this. I found that by changing where the program wanted to store videos and the temp directory, it would fix the error 12 problem. Much appreciated.