Compliance Updates

Global Gaming to Appeal Swedish License Revocation

Published

6 years ago

June 19, 2019

Niji Narayan

Global Gaming to launch NanoCasino.com in Sweden in cooperation with Finnplay

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Global Gaming is going to appeal Spelinspektionen’s decision to revoke its license in Sweden.

The Swedish gambling regulator has revoked the license of Global Gaming’s subsidiary SafeEnt Ltd, after conducting a thorough review of its operations in Sweden. The regulator’s review detected “serious deficiencies” in its anti-money laundering, know your customer, and social responsibility policies. The company was also found to have breached Sweden’s rules for bonus offers.

Tobias Fagerlund, the acting CEO of Global Gaming 555 AB, said that Spelinspektionen’s decision was odd as his company and its legal advisers were under impression that all obligations it had as a licensee were complied with.

The gaming authority said in a statement that SafeEnt lacked effective anti-money laundering and terrorist financing tools and that the review conducted showed “serious and systematic shortcomings” in the operator’s risk assessment and KYC.

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Niji Narayan

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.