LeoVegas challenges Spelinspektionen's "bad AML" judgment

LeoVegas AB filed an appeal against a fine of SEK 2 million (€ 200,000) issued by the Swedish gambling inspectorate Spelinspektionen in relation to “deficiencies in anti-money laundering and terrorist financing”

Spelinspektionen reported that LeoVegas failed to comply with the risk-based anti-money laundering requirements of Sweden's Anti-Money Laundering Act.

The penalty notice stated that LeoVegas was unable to “classify its customers by risk” and further submitted “unsatisfactory documentation. 'AML measures taken to protect their customers.

As a result, Spelinspektionen fined LeoVegas 2 million SEK, claiming that its business was subject to AML and terrorist activities. financial threats.

LeoVegas denies the allegation entirely, responding by claiming that Spelinspektion only revised its AML framework once during 2019.

An online gambling group based in Stockholm that operates the gogocasino.com and leovegas domains licensed in Sweden. com, announced its intention to appeal the Spelinspektionen decision.

“LeoVegas is continually evolving its policy to ensure compliance, and prior to today's decision, it has already changed and updated its customer due diligence procedures,” it said.

"LeoVegas intends to appeal today's decision to allow the court to review the matter and provide the entire industry with further guidance on how to interpret the current ruling."