{"id":286,"date":"2024-06-28T23:34:43","date_gmt":"2024-06-28T20:34:43","guid":{"rendered":"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures\/"},"modified":"2024-06-28T23:34:43","modified_gmt":"2024-06-28T20:34:43","slug":"kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures","status":"publish","type":"post","link":"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures\/","title":{"rendered":"Kindred Group Fined \u00a37.1 Million by UK Gambling Commission for AML and Social Responsibility Failures"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/ok3YLY0uIIo\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The relatives have stressed the historical context of the error.<\/p>\n<p>Kin have underlined the historical context of the social responsibility and anti-money laundering failures that led to the UK Gambling Commission imposing a \u00a37.1 million (8 million euros\/8.8 million US dollars) fine on the company&#8217;s 32 Red and Platinum Gaming brands.<\/p>\n<p>Family members highlight the historical context of the error.<br \/>\nIn response to the regulatory action, the company stated that it accepted that certain systems and processes implemented in 2020 and 2021 \u201cdid not meet the Commission\u2019s expectations on affordability.\u201d<\/p>\n<p>The operator also stated that it recognized and appreciated the Commission\u2019s acknowledgment that the company had enhanced its UK business operations since the investigation concluded, and that it remained qualified to hold a license.<\/p>\n<p>\u201cWhile we accept the outcome, and acknowledge that we have taken significant steps to strengthen our processes, we also recognize that we need to do more to ensure the business is safe and compliant,\u201d said Henrik Tj\u00e4rnstr\u00f6m, Kindred\u2019s chief executive officer.<\/p>\n<p>He added: \u201cWe appreciate the Commission\u2019s clear acknowledgment that our operations are improving and that we remain qualified to hold an operating license.\u201d \u201cWe are committed to reducing gambling harm on our platform, which is a key part of our journey towards zero \u2013 we will redouble our efforts to ensure we continue to make progress.\u201d<\/p>\n<p>The firm declared that, due to the steps taken, similar instances of shortcomings pointed out by authorities are improbable in the present day. The organization added that it has brought on additional personnel to its UK compliance and risk management team and continues to make ongoing improvements to its processes.<\/p>\n<p>The company has introduced new self-regulation features, including obligatory limits based on individual customer risk profiles, which encompasses a more concentrated approach for individuals under the age of 25. The new &#8220;solid financial responsibility framework&#8221; also signifies that the company enforces complete account blocks for players who display signs of &#8220;substantial financial hardship.&#8221;<\/p>\n<p>The organization also declared that it voluntarily enforces betting limits on particular products based on individual risk profiles, with customers considered less financially capable not permitted to wager at higher levels.<\/p>\n<p>Moreover, Kindred stated that it continues to introduce automated interventions to enhance the speed of response to players exhibiting typical escalation risk profiles.<\/p>\n<p>The operator stated that its &#8220;firm objective&#8221; in the upcoming months is to continue utilizing this work to integrate technological and data advancements into its responsible gambling framework.<\/p>\n<p>The company stated that it has observed a decrease in revenue generated by high-risk individuals since implementing the company&#8217;s safer gambling features. <\/p>\n<p>Kindred observed a substantial decrease in British earnings, plummeting by 57% from the initial quarter of 2020 to the final quarter of 2022.<\/p>\n<p>The organization also emphasized the beneficial effects of their actions, with 87% resulting in more wholesome gaming practices among their clientele.  Reassuringly, more than half of British gamers currently actively employ at least one accountable gaming instrument.<\/p>\n<p>Subscribe to the iGaming newsletter to remain informed. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The relatives have stressed the historical context of the error. Kin have underlined the historical context of the social responsibility and anti-money laundering failures that led to the UK Gambling Commission imposing a \u00a37.1 million (8 million euros\/8.8 million US dollars) fine on the company&#8217;s 32 Red and Platinum Gaming brands. Family members highlight the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gambling Firm Fined \u00a37.1 Million for Errors<\/title>\n<meta name=\"description\" content=\"A UK gambling company faces a hefty fine for historical failures in social responsibility and anti-money laundering measures.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Kindred Group Fined \u00a37.1 Million by UK Gambling Commission for AML and Social Responsibility Failures\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"A UK gambling company faces a hefty fine for historical failures in social responsibility and anti-money laundering measures.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Immerse Yourself in a World of Licensed Online Casino Thrills\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T20:34:43+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures\/\",\"url\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures\/\",\"name\":\"Gambling Firm Fined \u00a37.1 Million for Errors\",\"isPartOf\":{\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/#website\"},\"datePublished\":\"2024-06-28T20:34:43+00:00\",\"dateModified\":\"2024-06-28T20:34:43+00:00\",\"author\":{\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"A UK gambling company faces a hefty fine for historical failures in social responsibility and anti-money laundering measures.\",\"breadcrumb\":{\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/kindred-group-fined-7-1-million-by-uk-gambling-commission-for-aml-and-social-responsibility-failures\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Kindred Group Fined \u00a37.1 Million by UK Gambling Commission for AML and Social Responsibility Failures\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/#website\",\"url\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/\",\"name\":\"Immerse Yourself in a World of Licensed Online Casino Thrills\",\"description\":\"Unleash your gambling potential with the help of our latest casino news, game reviews, and informative articles. 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