LeoVegas has been issued a warning and sanction fee of SEK2m SEK 2m (€198k) by the Swedish Gambling Authority. According to the regulator, the company is considered to have been in breach of certain customer due diligence routines with respect to its Swedish customers, during the first year of the Swedish market being regulated (2019). LeoVegas intends to appeal the decision.
LeoVegas said: “LeoVegas is continually developing its policies to ensure compliance and had already before today’s decision changed and updated its customer due diligence routines. LeoVegas intends to appeal today’s decision in order to allow a court to review the matter and give the entire industry further guidance on how the current regulation is to be interpreted. LeoVegas has 14 brands and licences in eight separate jurisdictions.”
“Each year the company is subject to numerous audits and reviews by local supervisory authorities and external auditors. Compliance has top priority at LeoVegas and is an area that the company is continually developing in order to meet the requirements that the regulators – but also the company itself – puts on its operations,” the company concluded.
Source: LeoVegas
