LeoVegas hit with Warning and Sanction Penalty by Swedish Regulator

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danofthewibble

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I'm surprised at how light that penalty is, given it is for AML failings, and they're hardly a small operator. I doubt it's even their UK ad-budget for a week.

(Watch Fox UK at night. You're guaranteed an ad in every break for at least one of their properties. Currently they're pushing SlotBoss, Pink and Castle Jackpot.)
 

Slottery

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Here's news on Spelinspektionen site, including official 18 page doc (in Swedish):

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My Swedish is so rusty that not gonna write many conclusions from report, at least players used as examples, amounts deposited were nothing near of these big failures UKGC is handing huge penalties (not millions of euros/pounds stolen funds lost by any player etc...). These example players were much nearer of "normal" in amounts, was just noted that casino should know their players even better and shouldn't assume things, ie. somebody won big, he/she can now deposit a lot but instead casino should ask proof that funds really are re-deposited etc...

I think it's good from Leo Vegas to challenge this in court to get some sense and clarification how much casinos really have to know about their customers and their finances and which stage. SGA seem to be very strict in how much verified information casinos have to collect from their players, think it would be better for players if Leo Vegas win this in court. As this penalty is based on AML act, it has more in common between countries than certain countries own gambling legislation.

This whole AML regulation which is very inefficient to really prevent any serious ML is just growing all the time year by year, it start to be quite big sector in general if you start to count how many people are already employed in this area in companies and all these many many regulators, FIAU:s, NCA:s etcetc.... It's really been quite many years since last time some big organized crime gang got busted from ML through online casino (or almost got busted due to ML anywhere, inefficiency of this "let's monitor everyone everywhere much as possible" is just mainly PITA for casino players, casinos and many other industries where funds moves both ways but guess there's not much to be done anymore at this stage but keep it going and hopefully make it less painful for majority of people who don't use dirty money (but if you stop monitoring these transactions what your common sense tells you, there's not much left to monitor and nobody file SAR/STR:s anymore so don't really see it stopping).

Maybe somebody with bit stronger Swedish skills can provide bit better summary of this Leo Vegas vs SGA case, link above :)
 
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