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Sweden’s Administrative Court has reduced the penalty issued to Casino Cosmopol in 2018 from SEK8m to SEK3m.
The fine was issued by Lotteriinspektionen in relation to systematic deficiencies in Casino Cosmopol’s policies related to money laundering and terrorist financing in November 2018.
Casino Cosmopol submitted an appeal against this in December 2018, which was heard in Sweden’s Administrative Court last week. The hearing found that while the court agreed that the casino had breached its licence conditions, there should be a reduction in the penalty fee paid.
In response to the ruling, Lotteriinspektionen has said it will consider launching an appeal of its own against the Administrative Court decision.
“Casino Cosmopol AB has applied for a license to operate games when the new Gaming Act comes into force at the turn of the year. The Lottery Inspectorate has now informed Casino Cosmopol that they need to supplement their application with a description of the measures planned to comply with the money laundering regulations,” the regulator said.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Swedish Court Reduces Casino Cosmopol’s AML Penalty
