Paddy Power Fined for Irresponsible Practices
Paddy Power has finally been brought to justice. Not much justice considering all of the lives the company has ruined, but enough to send a message to the company to stop their criminal ways and respect the customers that provide them with the money they deserve in order to fund their business and expand their profits. Money laundering has been a major problem in the gambling world, and slot machines have always been a convenient way to store money to be redistributed among various criminal underground organizations. The money laundering issue has been addressed through various legal bodies that ensure gambling companies keep their employees in check and provide them the necessary information in order to prevent any money laundering schemes from sneaking through the system and potentially corrupting the industry itself. The bad rap the business has gotten has ensured that most administration followed these regulations and any and all instances that warranted suspicion were immediately reported to a governing body.
Paddy Power, however, did not adhere to such guidelines for quite some time. After the release of a number of their machines to the markets of main street stores and locales, multiple lives have been destroyed as a result of gambling addiction. This senseless loss of property and livelihood illustrates the company’s cutthroat willingness to lace revenue over any kind of profit that it may earn. The company is truly all about the bottom line, with the famous story of customer A now becoming popular folklore for reasons to avoid gambling and keep away from the Paddy Power slot machines. Customer A is not living on the street and was working five jobs just to have a source of money to pay for his crippling addiction. When seeking the counsel and help of advisers within Paddy Power, he was encouraged to keep going. He lost sleep and, more importantly, his five jobs, his home as well as his wife and kids.
Paddy Power recently was involved in a number of scams, one of which involved a banker who was stealing money from both of the locations from which he worked. This man is a classic example of what a suspicious character looks like, and he was indeed reported to a senior member of the Paddy Power corporation. This led to absolutely nothing. The “oversight” resulted in the loss of money and a very bad reputation, as the employee guilty of embezzling funds was later sent to prison for his offenses.
Paddy Power has now been faced with the necessary action: that is, they must institute stricter regulation policies to prevent any such oversights from happening again. these policies were compiled to voluntarily undoubtedly as a means of reinstituting the company name into the favor of the public eye. After all, no one desires an image associated with money laundering and broken lies, even if they are guilty of it. The tactic will likely result in a further investigation, but for the moment, institutions a little bit of stricter regulation has allowed for a step in the right direction for those involved with the Paddy Power slot machines.
