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LeoVegas Fined for Allowing Customer Deposits Potentially Linked to Organized Crime

The Swedish Betting Authority Spelinspektionen has actually fined on-line video gaming firm LeoVegas SEK 2 million (EUR197,051) for breaching client due diligence laws. The breach happened in 2019 throughout Sweden’s first year of market guideline.

Following an examination, the regulator has determined to release a fine and a warning that the driver make sure that no additional breaches occur.

According to Spelinspektionen, LeoVegas enabled a consumer to deposit virtually SEK 500,000 in one month regardless of the customer having a sentence and also well-known ties to organized crime. The examination explored deposits made by 15 consumers during 2019 and discovered that 4 customers’ activity should have been flagged as dubious with a high risk of cash laundering.

In a statement released on the LeoVegas corporate web site, the group mentioned that it had updated its plans considering that the events concerned which it would ask for the alternative to appeal the regulatory authority’s choice in a court of law.

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