Betsson Nordic Ltd has been issued a warning and fined SEK6.5 million ($682,272) for deficiencies in its anti-money laundering (AML) practices in Sweden.
The Swedish Gambling Authority, Spelinspektionen, began its supervision of Betsson on May 2, 2024, focusing primarily on transactions and activities from the year 2023. The authority reviewed 10 customers from a list of the top 50 customers aged 18 to 29, based on total deposits made.
Spelinspektionen examined customer cards and transaction histories for these 10 players and found that only two cases had no deficiencies. In contrast, one customer was identified who had made 163 deposits totaling SEK491,950 between September 19 and December 30, 2023, notably against a net annual income of SEK310,000, while being rated only a low to medium risk level.
The Swedish Gambling Authority criticized Betsson for legitimizing total deposits that exceeded the players’ incomes by referring to their prior withdrawals of betting winnings.
“The deficiencies are both serious and systematic,” Spelinspektionen noted. “Given this and the company’s financial position, the Swedish Gambling Authority has decided the sanction fee should be set at SEK6.5 million.”
“The sanction fee is proportionate to the seriousness of the violation,” the authority concluded.
**Snabbare and Flutter’s TSG also fined for AML mishaps**
Furthermore, Snabbare Ltd and The Stars Group (TSG) Interactive, both owned by Flutter Entertainment, have also been fined and warned by Spelinspektionen for AML deficiencies in Sweden. TSG Interactive was fined SEK7 million, while Snabbare received a sanction fee of SEK5.5 million.
TSG permitted multiple customers to exceed net deposits of SEK424,514 over a 365-day period, which should have triggered enhanced customer due diligence measures and verification of the source of funds.
“The customer due diligence regarding the audited customers was insufficient,” Spelinspektionen ruled. “TSG did not implement sufficient enhanced customer due diligence measures in time, thus failing to assess the risk of exposure to money laundering.”
Snabbare was criticized for allowing deposit amounts that surpassed annual incomes, which pointed to inadequate customer knowledge and delayed measures, increasing the risks of the company being exploited for money laundering.
Spelinspektionen characterized the failings of all three operators as “serious and systematic,” cumulatively leading to SEK19 million in fines.
**Busy period for Spelinspektionen**
Just last week, Spelinspektionen fined several charity and political organizations operating lotteries for inadequate control over contractors and marketing violations. The Swedish Social Democratic Workers’ Party, the Swedish Social Democratic Youth League, and the Swedish Social Democratic Women’s League were collectively fined SEK3 million.
In early May, Kindred’s subsidiary Spooniker was fined SEK10 million for AML deficiencies, and Videoslots was ordered to pay SEK12 million in April for failing to counteract excessive gambling.
Spelinspektionen’s busy 2025 continues, with Betsson being one of three operators reprimanded for AML deficiencies.