Johan Röhr, who currently serves as chief legal officer at the Swedish Gambling Authority (SGA), has been named acting director general of the regulator.Röhr has been...
Betsson Fined for AML Failings by Swedish Gambling Authority
Swedish Gambling Authority (Spelinspektionen) issued a warning and a fine of SEK6.5 million ($682,272) to Betsson for faults in AML. Snabbare and Flutter’s TSG were fined alongside Betsson.
On May 2, 2024, the Swedish Gambling Authority initiated supervision of Betsson, focusing on activities and transactions of 2023. The regulator selected 10 people to review from a list of 50 customers who made the largest total deposits, aged 18 to 29.
Spelinspektionen checked the customer cards and transaction history and found out that only 2 out of the 10 had no problems. One of the 8 had made 163 deposits between September 19-December 30, 2023, with a spending total of SEK491,950. The customer’s net annual income was SEK310,000, yet his risk level was considered between low and medium. According to the regulator, Betsson justified total deposits exceeding players’ incomes by referring to their previous withdrawals of winnings from betting.
A spokesperson of Spelinspektionen shared in a statement:
“The Swedish Gambling Authority has stated that the deficiencies are both serious and systematic. Against this background and the company’s financial position, the Swedish Gambling Authority assesses that the sanction fee should be set at SEK6.5 million. The Swedish Gambling Authority assesses that the sanction fee is proportionate to the seriousness of the violation.”
Betsson wasn’t the only provider that had deficiencies. Snabbare and The Stars Group (TSG) also received warnings and fines for AML faults in Sweden.
TSG Interactive, owned by Flutter Entertainment, has been fined SEK7 million, while Snabbare was issued a sanction fee of SEK5.5 million. TSG allowed multiple customers to exceed net deposits of SEK 424,514 across 365 days. Meanwhile, Snabbare accepted deposit amounts above annual incomes, pointing out that the company’s customer knowledge is incomplete, and it is at risk of being used for money laundering.
Spelinspektionen’s statement continues:
“The Swedish Gambling Authority assesses that TSG’s customer due diligence regarding the audited customers has been insufficient. TSG has not taken adequate enhanced customer due diligence measures at all or in time, and has thus not been able to assess the risk of being exposed to money laundering.”
Spelinspektionen described the failings of all three operators as “serious and systematic”, leading to the SEK19 million total in fines.
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