The Swedish Court of Appeals has rejected an appeal from Svenska Spel’s land-based casino brand over a fine for anti-money laundering failings.
Sweden.- Svenska Spel’s land-based casino brand, Casino Cosmopol, has lost its appeal against a fine for anti-money laundering failings back in 2018.
The Swedish Court of Appeal found that the SEK3m (€276,959) fine imposed was appropriate, dismissing both the operator’s appeal and an appeal from the national gaming regulator Spelinspektionen to have the amount of the fine increased.
Spelinspektionen, then Lotteriinspektionen, originally issued an SEK8m fine to Casino Cosmopol for failing to comply with licence requirements for money laundering and terrorist financing over a seven-month period from January 1 to July 31, 2018.
It found that the operator had failed to record incidents such as a player spending SEK99,000 on slot machines in one evening.
The fine was reduced to SEK3m by Sweden’s Administrative Court after Casino Cosmopol appealed, a decision that Spelinspektionen then subsequently appealed on the ground that the offences amounted to “serious and systematic violations of gaming regulations”.
The Swedish regulator has recently reprimanded two igaming operators for allowing customers to circumvent the country’s current deposit limits on online casino products.