Betsson Nordic Ltd has been issued with a warning and fined SEK6.5 million ($682,272) for deficiencies in its AML work in Sweden.
Spelinspektionen began supervising Betsson on May 2, 2024, primarily focusing on transactions and activities from 2023. The regulator reviewed 10 customers selected from the top 50 customers aged 18 to 29, based on their total deposits.
For these 10 players, Spelinspektionen requested Betsson’s customer cards and transaction histories. Only two of these cases were found to be free of deficiencies.
Among the other eight, one customer made 163 deposits totaling SEK491,950 between September 19 and December 30, 2023. Despite having a net annual income of SEK310,000, this player’s risk level was assessed as low to medium.
The regulator noted that Betsson justified deposits exceeding incomes by referring to players’ previous withdrawals of winnings from betting. “The Swedish Gambling Authority has stated that the deficiencies are both serious and systematic,” said Spelinspektionen. “Given this and the company’s financial status, the Swedish Gambling Authority assesses that the sanction fee should be set at SEK6.5 million.”
“The sanction fee is deemed proportionate to the severity of the violation,” the regulator added.
**Snabbare and Flutter’s TSG also fined for AML mishaps**
Snabbare Ltd and The Stars Group (TSG) Interactive, owned by Flutter Entertainment, were also fined and warned by Spelinspektionen for their AML practices in Sweden.
TSG Interactive has been fined SEK7 million, while Snabbare received a sanction fee of SEK5.5 million. TSG allowed several customers to exceed net deposits of SEK424,514 over a 365-day period without triggering necessary due diligence and source of funds checks.
“The Swedish Gambling Authority believes TSG’s customer due diligence for the audited customers was inadequate,” Spelinspektionen stated. “TSG did not implement sufficient or timely enhanced customer due diligence measures and thus could not properly assess the risk of being exposed to money laundering.”
Snabbare faced criticism for accepting deposit amounts above annual incomes and its insufficient customer knowledge, increasing the risk of being exploited for money laundering purposes.
Spelinspektionen described the breaches by all three operators as “serious and systematic,” resulting in a total of SEK19 million in fines.
**Busy period for Spelinspektionen**
Last week, Spelinspektionen fined several charity and political organizations operating lotteries for failing to oversee contractors and for marketing violations. The fined entities included the Swedish Social Democratic Workers’ Party, the Swedish Social Democratic Youth League, and the Swedish Social Democratic Women’s League, amounting to SEK3 million in penalties.
In early May, Spelinspektionen fined Kindred’s subsidiary Spooniker SEK10 million for AML issues, and in April, Videoslots was ordered to pay SEK12 million for failing to counteract excessive gambling.
Spelinspektionen’s active 2025 continues, with Betsson among the three operators penalized for AML deficiencies.