The Swedish gambling regulator, Spelinspektionen, has imposed a penalty on Videoslots for breaching anti-money laundering (AML) regulations.
The regulator identified shortcomings in the operator’s customer due diligence processes and deficiencies in the retention of essential documents and information.
Initially, Spelinspektionen issued a SEK 9m (€779,234) fine. However, after determining that the breaches were not systematic, it reduced the penalty to SEK 4m. The regulator acknowledged the difficulty in calculating Videoslots’ financial benefit from the violations but explained that the fine was based on the company’s net turnover from the year preceding the failings.
The Swedish horseracing betting operator AB Trav och Galopp (ATG) has raised concerns about the growing presence of unlicensed gambling operators. According to ATG, channelisation — the proportion of players using licensed gambling services — may have fallen to as low as 70%.
The company’s latest report revealed that traffic to unlicensed gambling sites had surged tenfold since 2019. As a result, ATG claims that the channelisation rate in Q3 ranged between 70% and 82%, lower than the 82% figure reported by Spelinspektionen.
The regulator identified shortcomings in the operator’s customer due diligence processes and deficiencies in the retention of essential documents and information.
Initially, Spelinspektionen issued a SEK 9m (€779,234) fine. However, after determining that the breaches were not systematic, it reduced the penalty to SEK 4m. The regulator acknowledged the difficulty in calculating Videoslots’ financial benefit from the violations but explained that the fine was based on the company’s net turnover from the year preceding the failings.
The Swedish horseracing betting operator AB Trav och Galopp (ATG) has raised concerns about the growing presence of unlicensed gambling operators. According to ATG, channelisation — the proportion of players using licensed gambling services — may have fallen to as low as 70%.
The company’s latest report revealed that traffic to unlicensed gambling sites had surged tenfold since 2019. As a result, ATG claims that the channelisation rate in Q3 ranged between 70% and 82%, lower than the 82% figure reported by Spelinspektionen.
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