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ATG successfully appeals Spelinspektionen fine
Spelinspektionen’s penalty for ATG has recently been reversed by the administrative court.
Back in November of last year, the Swedish gambling regulator issued a warning and a fine of 6 million krona to the operating firm ATG. The penalty was for various AML failures and stemmed from an earlier investigation carried out by the Spelinspektionen, which examined the operator’s AML and CTF efforts between 2019 and 2021.
The investigation initially found that the operator’s procedures were in-line with the country’s AML requirements. However, after examining 13 customers more closely, the regulatory authority found that the company failed to carry out appropriate AML and CTF checks on 8 players. This led to the Spelinspektionen issuing the penalty, believing that the failures were a part of systemic shortcomings at ATG.
The gambling company appealed the decision, which was recently heard in the country’s administrative court. After carrying out its own review, the court was able to confirm the regulator’s findings, with the operator failing to conduct appropriate client reviews and due diligence in the aforementioned eight cases.
However, the court also ruled that these failures were not repeated or systemic, and added that they were unlikely to significantly increase the risk of the operator being used as a way to launder funds. As a result, ATG’s warning and penalty have been reversed.
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