Summary
- An investigation by Spelinspektionen, Sweden's gambling authority, led to fines and financial penalties for several operators.
- TSG Interactive PLC, Snabbare Ltd, and Betsson Nordic Ltd have all been issued fines and warnings.
- The gambling regulator stated that the operators violated regulations concerning anti-money laundering and customer due diligence.
Sweden's gambling regulator, Spelinspektionen, diligently oversees the activities of operators within the country. When required, it imposes fines, issues warnings, and even has the authority to revoke licenses. Recently, the regulator announced nearly SEK 19 million ($2 million) in warnings and financial penalties against three licensed operators.
Three licensees receive warnings and fines
Two warnings and sanctions were announced on Friday, with details of a third penalty emerging on Monday. These actions are the result of an investigation by Spelinspektionen and affect TSG Interactive PLC, licensed for commercial online betting and gaming through pokerstars.se; Snabbare Ltd, which operates faster.com; and Betsson Nordic Ltd, responsible for betting and online gaming via betsson.com/sv. These fines follow the imposition of a SEK 12 million ($1.26 million) penalty on Videoslots in Sweden in late April. The gambling watchdog cited deficiencies in responsible gambling as the reason for the sanction at that time.
The sanctions follow investigations by Spelinspektionen
According to an announcement by Spelinspektionen, TSG Interactive has been fined SEK 7 million ($736,100) due to identified deficiencies in customer due diligence practices. The Swedish gambling regulator noted, The company failed to gather adequate information about the origins of its funds, preventing them from evaluating whether customers' activities and transactions were legitimate or posed a risk of money laundering. In addition to the substantial fine, TSG Interactive received a formal warning. Similarly, Snabbare Ltd, the operator of faster.com, faced both a monetary penalty and a warning. Following an investigation that revealed shortcomings in anti-money laundering procedures and customer due diligence, Snabbare Ltd was fined SEK 5.5 million ($578,400). Spelinspektionen reported that the company did not gather necessary information about the source of funds for some customers, nor could it determine the legitimacy or potential money laundering risk of certain transactions. On Monday, Spelinspektionen disclosed details about a penalty imposed on Betsson Nordic Ltd, the operator of betsson.com/sv. Due to alleged anti-money laundering deficiencies, the company received a fine of SEK 6.5 million ($682,100), along with a warning, similar to the other cases. Recently, Spelinspektionen has also targeted Versus Odds B.V. for allegedly offering games of chance to customers in Sweden without the required license.
