The UK Gambling Commission (UKGC) has imposed a hefty penalty on Lindar Media due to a range of regulatory lapses. This decision comes after a compliance review of the operator’s business that commenced in September 2022.
Lindar Media’s social responsibility and anti-money laundering measures were found to be deficient by the UKGC. Paired with this, there were noticeable inadequacies in the reporting arrangements concerning key events made by the operator.
The firm was also found lacking in promoting its marketing products in a socially tenable way. This was exemplified by an advertisement featuring Spiderman, which the UKGC contends could potentially attract children. Along with this, Lindar Media failed to give yearly contributions to organizations that promote safer gambling.
Reflecting on the gravity of Linder Media’s regulatory breaches, the UKGC emphasized their similarity to past cases. This underlines that lessons from historical cases have not been adequately incorporated by the broader industry.
Lindar Media will now have to shell out a £690,947 ($854,186) regulatory settlement in light of its failings. The entire settlement amount will be contributed to causes that nurture social responsibly.
Lindar Vows to Improve
In spite of the fine, the UKGC acknowledged several mitigating factors. Besides lauding the transparency and cooperation showed by Lindar Media, the watchdog also recognized the operator’s early admission of its shortcomings and proposal for an early regulatory settlement.
The regulatory body also complimented the operator for the immediate actions taken to rectify the identified breaches. In fact, in certain instances, the operator introduced changes before the compliance review, as noted by the UKGC.
Significantly, no criminal or money laundering activity resulted from Lindar Media’s infringements, the regulator noted.
Lindar Media’s chief executive officer, Savvas Fellas, released a statement regarding the firm’s progression. He communicated his commitment to enrich the organization’s daily operations since 2022, focusing on grooming the senior leadership team and ensuring process uniformity through the use of scalable systems.
As we expand, we’ve established scalable systems for consistency and developed tech-based models that support compliance and promise safer gambling to our players. These efforts align with our mission to offer progressive, delightful value entertainment with transparency.
Savvas Fellas, CEO, Lindar Media
Despite the recent regulatory setbacks, Lindar Media, trading as MrQ, remains optimistic about elevating its compliance standards and setting an example in the industry. Motivated by the UKGC’s probe, the entertainment firm pledges to invest in enhanced practices to assure compliance. The operator is determined to cooperate with the UKGC to prevent any future regulatory breaches.
