Betsson Nordic Ltd has received a warning and a fine of SEK 6.5 million ($682,272) for failing to meet anti-money laundering (AML) standards in Sweden.
The Swedish Gambling Authority, Spelinspektionen, initiated its review of Betsson on May 2, 2024, focusing on customer activities and transactions from the previous year. The investigation targeted 10 clients from a group of the top 50 depositors aged 18 to 29.
During the examination, Spelinspektionen studied the customer cards and transaction histories of these individuals, identifying issues with eight out of ten cases. Notably, one user had made 163 deposits totaling SEK 491,950 between September 19 and December 30, 2023, despite an annual income of just SEK 310,000. The risk level for this customer was inaccurately categorized as low to medium.
The authority noted that Betsson often justified deposits exceeding players’ incomes by pointing to previous betting winnings. It emphasized that the shortcomings were “serious and systematic” and deemed the fine of SEK 6.5 million appropriate given the company’s financial capacity. They also believed that the fine was proportionate to the severity of the infractions.
**Snabbare and Flutter’s TSG also fined for AML issues**
Similarly, Snabbare Ltd and The Stars Group (TSG) Interactive, subsidiaries of Flutter Entertainment, were penalized by Spelinspektionen for AML infringements. TSG Interactive incurred a SEK 7 million fine, while Snabbare was fined SEK 5.5 million.
TSG had several customers who exceeded net deposits of SEK 424,514 over 365 days without triggering necessary enhanced customer due diligence or source-of-funds inquiries. The authority criticized TSG for insufficient customer due diligence and for its inadequate and delayed enhanced measures, thus exposing the organization to increased risks of money laundering.
Snabbare was reproached for accepting deposits that surpassed annual incomes, leading to doubts about the adequacy of the company’s knowledge of its clients and its delayed responses that heightened money laundering risks.
The deficiencies of all three companies were described by Spelinspektionen as “serious and systematic,” resulting in fines totaling SEK 19 million.
**Busy period for Spelinspektionen**
In a recent series of regulatory actions, Spelinspektionen also penalized multiple charity and political organizations engaged in lottery operations for lacking oversight on contractors and violating marketing rules. The entities fined included the Swedish Social Democratic Workers’ Party, the Swedish Social Democratic Youth League, and the Swedish Social Democratic Women’s League, with total fines amounting to SEK 3 million.
Earlier in May, Kindred’s subsidiary Spooniker was fined SEK 10 million for AML failings. Additionally, in April, Videoslots received a SEK 12 million fine for not addressing excessive gambling.
The series of actions throughout 2025 underscore Spelinspektionen’s ongoing vigilance and rigorous regulatory enforcement, particularly concerning AML issues across various operators.