Finland: police probe money laundering linked to unlicensed online gambling

Police believe that millions of euros were laundered.

Finland.- The Central Criminal Police of Finland has announced that it is undertaking a probe into potential money laundering in connection to an unlicensed gambling operation. The police force says it began a preliminary investigation last year, finding that an operation had sold lottery tickets illegally.

Police estimate that at least three people were involved in laundering millions of euros between 2016 and 2022. Two of the suspects are believed to have procured players and brokered bets. A third suspect is alleged to have received and transferred funds from the illegal gambling.

Commissioner Janne Takkunen said: “This is a quite exceptional criminal investigation in Finland. The topic has been less prominent in the public eye, but this kind of suspected illegal gambling has been a phenomenon in Finland for a long time. In this case, the suspect kept in touch with his clientele on Facebook, among other places, where he had also published related messages and information.”

Finland is currently preparing for the end of its monopoly gambling system, but Veikkaus will retain its monopoly over lottery operations. It will be divided into three units: domestic games of chance, slots and arcades; domestic online casino and betting; international. It expects around 200 job losses, while over 100 will see material changes in employment terms.

The move reverses the 2017 merger between Veikkaus (betting), Raha-automaattiyhdistys (slots) and Fintoto (horse racing betting). Each of the three units will be led by a senior vice president.

Nora Vähävirta, the present chief operating officer of business operations, will take the role for the unit dedicated to domestic gaming, slot machines and arcades. Jarkko Nordlund, who became an executive director at Veikkaus in September, will be SVP for domestic online casino and betting operations and Jonas Reuter, who also joined in September, will take the corresponding position for international business.