Betsson Nordic Ltd has been issued a warning and a fine of SEK 6.5 million ($682,272) due to deficiencies in its anti-money laundering (AML) practices in Sweden.
The Swedish Gambling Authority, Spelinspektionen, initiated its supervision of Betsson on May 2, 2024, focusing their attention on transactions and activities that took place in 2023. The authority reviewed 10 customers from among the top 50 customers aged 18 to 29, who had the highest total deposits. Upon requesting customer cards and transaction histories for these 10 players, it was found that only two cases showed no deficiencies.
Among the remaining eight cases, one notable example involved a customer who made 163 deposits between September 19 and December 30, 2023, totaling SEK 491,950, even though they had a net annual income of SEK 310,000. Betsson had rated this player’s risk level as between low and medium. The gambling authority criticized Betsson for allowing total deposits to surpass player incomes by rationalizing the amounts with prior withdrawals of betting winnings.
“The Swedish Gambling Authority has stated that the deficiencies are both serious and systematic,” noted Spelinspektionen. “Given this context and the company’s financial standing, the authority deems a sanction fee of SEK 6.5 million appropriate and proportionate to the seriousness of the violations.”
**Snabbare and Flutter’s TSG also fined for AML mishaps**
Additionally, Snabbare Ltd and The Stars Group (TSG) Interactive, owned by Flutter Entertainment, were also penalized by Spelinspektionen for AML deficiencies. TSG Interactive received a fine of SEK 7 million, while Snabbare was subjected to a sanction fee of SEK 5.5 million.
TSG allowed several customers to exceed a net deposit of SEK 424,514 over a 365-day period, which should have triggered enhanced customer due diligence and inquiries into the sources of the funds. “The Swedish Gambling Authority found TSG’s customer due diligence regarding the audited customers to be insufficient,” said Spelinspektionen. “TSG did not implement adequate enhanced due diligence measures promptly, and thus failed to properly assess the risk of exposure to money laundering.”
Spelinspektionen criticized Snabbare for accepting deposits exceeding annual income, noting the company’s insufficient understanding of its customers and delayed actions, increasing the risk of exploitation for money laundering purposes. The regulator described the failings of all three operators as “serious and systematic,” resulting in total fines of SEK 19 million.
**Busy period for Spelinspektionen**
Just last week, Spelinspektionen announced fines against several charity and political organizations that conduct lotteries, citing failures to supervise contractors and for marketing infractions. The organizations fined included the Swedish Social Democratic Workers’ Party, the Swedish Social Democratic Youth League, and the Swedish Social Democratic Women’s League, with penalties amounting to SEK 3 million.
Earlier in May, Spelinspektionen imposed a fine on Kindred’s subsidiary Spooniker of SEK 10 million for AML shortcomings, and in April, Videoslots was ordered to pay a sanction fee of SEK 12 million for failing to counteract excessive gambling. Betsson is just one of several operators penalized for AML discrepancies during Spelinspektionen’s active 2025.