Recently, Mr. Green, online gaming society, has been a penalty of $ 3.84 million. The latter was imposed on him by the UK Gambling Commission. The delicacy of the situation could then taint the image of the parent company of the company, William Hill PLC.
The reasons for such a penalty
To make simple, Mr. Green would, according to the UKGC, be important "systemic failures". Faced with this observation, the Commission inflicted a fine, which it considers deserved, to the company. This failure concerns the protocols of the operator limiting money laundering and the problems of play. The value of the fine in itself is not a problem for society or for its mother house William Hill. Financial loss can even be easily absorbed. According to Moody's Investors Service, this proves that the assessment and social consideration of game companies are underestimated. There is a real risk that it is not managed correctly, and leaves a negative credit. It must be said that since 2018 Mr. Green has been the ninth firm to be suspected by the UKGC. In all this, the Commission has evaluated height sanctions of $ 29.5 million. These are justified by various offenses such as money laundering, the violation of advertising and marketing. Even worse, these firms are accused of improperly identifying problem players.
It is indeed not the first time that this kind of situation occurs. William Hill and some of his competitors have already exchanged with UKGC on similar chess subjects. Not later than July 2019, GVC Holdings plc also screens 5.9 million pounds sterling. The cause is then other than "systemic failures" at its subsidiary Ladbrokes Coral. For William Hill, the first fine of 6.2 million pounds sterling dates back further that in February 2018. On the one hand, a relaxation of operators compared to conformities is observed. On the other hand, these repressions are all due to the fact that the UKGC takes advantage of new powers of repression. These were granted to the Commission in 2015 and allow it to control advertising. At the same time, the Commission can also punish those who violate any new regulation. Strict restriction measures are then put in place. Apart from those taken by the British authorities in 2019. Among other things, the remote gaming fee (RGD) is up 21%. Similarly, the highest bets on FOBT and online slot machines are limited to £ 2 against £ £. In the same way, online games in the UK now have no right to accept credit cards. This allows, among other things, to limit game problems while improving corporate social responsibility.
Evidence in support
The fine imposed by UKGC is not unfounded. The Commission has, in fact, found evidence of money laundering engaging the corporate social responsibility. In the investigation, he was highlighted that a client from Mr. Green had won $ 50,000. However, the company did not provide any interaction in social responsibility. In addition, the customer has been set aside and has been able to deposit thousands of extra pounds. There was also a payment, dating from 10 years ago, from 176 000 £ that brings more evidence. It should be known that at this time, the customer had filed more than one million £. For the sole purpose of the source of the funds, Mr. Green had accepted a photograph of a laptop screen. On the latter figure the amount of the Currency in US dollars on a claiming cryptographic trading account. Moody's, however, did not yet advance that William Hill could be decommissioned. For now, it only has a "BA1" note and a negative perspective. However, the annotation "BA" means that there are speculative elements submitting companies to an important credit risk.