The fine imposed on Malta-based iGaming operator Mr. Green by the Swedish gambling regulator Spelinspektionen has been decreased.
The Supreme Administrative Court of the country made the ruling, holding that Spelinspektionen had good reason to impose the penalty in 2021 but that the total should be lowered to reflect the correct computations.
The Swedish gambling regulator cited several violations related to duty of care and AML in relation to 15 distinct accounts on the network of the igaming provider, some of which went back several years. Mr. Green was hit with two penalties totaling SEK 31.5m (£2.35m). Now, that amount is only SEK 12 million (£900,000). This April, the Evoke-owned (previously known as 888) brand found itself in hot water in Denmark as well, as the local regulator Spillemyndigheden found insufficiencies with the company’s internal risk assessment processes.
One of the shortcomings noted in the report was that Mr. Green did not have independent risk evaluations for a number of crucial procedures, including the use of payment methods. It was also noted that there were no scheduled intervals for the evaluation and administration of internal controls.
Because of this, Spillemyndigheden in Denmark gave Mr. Green until June 10th to turn in an updated risk assessment plan and proof of altered conduct by October 10th.
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