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Compliance Updates

Swedish Court Upholds Fine Against Casino Cosmopol

Published

4 years ago

on


Casino Cosmopol Receives New Five-year Licence
Reading Time: < 1 minute

 

Casino Cosmopol, the land-based casino brand of Svenska Spel, has lost its appeal against a fine for anti-money laundering failings back in 2018.

The Swedish Court of Appeal found that the SEK3m fine imposed was appropriate, dismissing both the operator’s appeal and an appeal from the national gaming regulator Spelinspektionen to have the amount of the fine increased.

Spelinspektionen, then Lotteriinspektionen, originally issued an SEK8m fine to Casino Cosmopol for failing to comply with licence requirements for money laundering and terrorist financing over a seven-month period from January 1 to July 31, 2018.

It found that the operator had failed to record incidents such as a player spending SEK99,000 on slot machines in one evening.

The fine was reduced to SEK3m by Sweden’s Administrative Court after Casino Cosmopol appealed, a decision that Spelinspektionen then subsequently appealed on the ground that the offences amounted to “serious and systematic violations of gaming regulations.”

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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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