Sweden – Casino Cosmopol receives warning and sanction fee for deficiencies in anti-money launderingBy Phil - 20 December 2023
In November 2021, the Swedish Gambling Authority initiated supervision of Casino Cosmopol AB’s work to prevent the company from being used for money laundering and terrorist financing.
The Swedish Gambling Authority initiated the current supervision to review Casino Cosmopol’s work with customer due diligence and to follow up on previous deficiencies regarding certain requirements in the Anti-Money Laundering Act.
According to the Swedish Gambling Authority’s assessment, Casino Cosmopol has failed in its work with customer due diligence in several areas. The deficiencies are considered to be so serious that Casino Cosmopol AB receives a warning and an administrative fine of SEK 2m.
CEO of Casino Cosmopol Ola Enquist said: “Casino Cosmopol accepts the criticism. As the Gambling Inspectorate states in its decision, during and after the supervision period, Casino Cosmopol implemented improvement measures. The Swedish Gaming Authority also assesses that Casino Cosmopol will be able to comply with the regulations going forward.”
“We have high ambitions for our work and have implemented new comprehensive tools and routines. The shortcomings that have not already been remedied, we will take care of them. Money laundering is a serious social problem that must be combated in every way. We will now go through and carefully analyse the Gambling Authority’s decision.”