It’s been reported that three leading gambling firms – that include Betsson and Flutter – have been handed big fines by the Spelinspektionen over a series of AML failures that violated Swedish regulations around customer due diligence procedures.
Flutter, Betsson and Snabbare Fined After Breaching Swedish Gambling Rules
The Swedish Gambling Authority – Spelinspektionen – have issued a SEK 13.5m (£1m) bill towards three big gambling operators.
The trio of firms involved are TSG Interactive (The Stars Group), who are owned by Flutter Entertainment, Betsson Nordics and Snabbare Ltd.
It’s been said that Spelinspektionen have been discovered evidence surrounding transaction issues that TSG have failed regarding money transfers and obtaining the right customer due diligence information.
They stated that one of these areas was around TSG’s lack of ability disclosing if a customer’s income was legitimate – posing money laundering questions and potential risks.
These findings date back to 2023 and have been discovered after a probe into TSG by Spelinspektionen in May 2024.
In Sweden new penalty calculations came into force in June 2024 – which were designed to deter operators by making the fee a percentage or either gross gambling revenue or turnover.
But due to the shortcomings found prior to June 2024 – the fine was calculated based on the old regulations. With the maximum penalty issued for AML breaches capped at €1m – which is around SEK 10.5m.
Betsson Nordics Also Came Under The Spotlight
Like the TSG investigation, leading Swedish betting firm Betsson Nordics where also examined for that lack of customer due diligence in May 2024.
It was reported that ten active customers back in 2023 were selected on age and spend.
With these findings by Spelinspektionen saying that Betsson customers aged between 20-24 had racked up total deposits between SEK 133,584 and SEK 273,699 over a six-month period.
The concern for the Spelinspektionen is that the general rule for gamblers of that age is they don’t have these sorts of funds available to bet. Which led to further questions surrounding money laundering and flagging these customers up as ‘high-risk’ individuals.
As per the TSG case, Betsson Nordic were issued with a SEK 6.5m bill based on these findings and that they happened prior to the new June 2024 rules.
Snabbare Ltd The Third Operator To Be Investigated
The final trio of betting firms to be targeted by the Spelinspektionen were Snabbare Ltd, who are a subsidiary of ComeOn Group and have been in operation since 2017 working under a Maltese and Swedish license.
Similar to the Flutter and Betsson cases, Snabbare Ltd again came under scrutiny for a lack of customer due diligence during 2023.
But they managed to get away with a slightly smaller fine SEK 5.5m – but have been a regular offender with Spelinspektionen.
They were issued another sanction back in 2021 of SEK 65m (£5m) after it was found they had offered players recurring offers, like casino bonuses – in Sweden only first-time bonuses are permitted.
Who Are The Spelinspektionen?
The Spelinspektionen are the Swedish Gambling Authority and are state-owned.
Their job is to regulate gambling and betting activity in Sweden – including online bookmakers and gaming sites that offer free casino spins and lottery providers.
They also advise the Swedish government on casinos and issue permits for lotteries in the country.
Andy is an experienced betting and gambling journalist with over 20 years industry experience. He brings an excellent knowledge of the world of sports betting and industry gambling news.
