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Cosmopol gets penalty for money-laundering hiccups

Published

7 years ago

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Cosmopol gets penalty for money-laundering hiccups
Photo Source: svenskaspel.se
Reading Time: < 1 minute

 

The Swedish Lottery Inspectorate has slapped a penalty of SEK8m (€778,000) on Casino Cosmopol, the subsidiary of Svenska Spel, for money laundering failings.

The lottery inspectorate has identified shortcoming in the money-laundering prevention measures of the company, which operates casinos at Sundsvall, Malmö, Gothenburg and Stockholm.

Casino Cosmopol president Per Jaldung said: “Our anti-money laundering measures are an ongoing development work that we continually improve. In dialogue with the Lottery Inspectorate, we have stated that we are in an implementation and development phase. We are aware of the improvements that need to be made, we have a plan for this and it is the top priority for our business. We respect the Lottery Inspectorate’s decision but are also somewhat surprised because our view is that we have been transparent and had a good dialogue about our plan for money laundering.”

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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