Swedish Gambling Authority warns LeoVegas on compliance
The Swedish Gambling Authority (SGA) is slapping online gambling operator LeoVegas with a 2 million SK ($250,000 USD) fine and a warning for alleged lapses on compliance issues. Company officials say the SGA hasn’t got its facts straight and plan on appealing the decision in a Swedish court. No matter what the outcome, the case is another example of how European gambling regulators are tightening the screws on online gambling operators in an apparent bid to protect vulnerable players from the ravages of problem gambling during the pandemic.
At the heart of the matter are alleged failures on the part of LeoVegas to comply with the exact letter of Swedish law in the thorny area of compliance back in 2019. Though specific allegations are not available, a compliance issue could be anything from failing to check the sources of large deposits to allowing problem gamblers to make multiple deposits over a very short period.
Regardless of what Swedish gambling regulators are alleging, officials at LeoVegas deny the charges and plan a vigorous appeal. They say that the SGA’s allegations from 2019 are not reflective of the company’s practices as a whole. They’re also pressing the SGA for more regulatory clarity for all its licensed gambling operators.
In a statement to the press, reported on by GamblingInsider.com, company officials defended their compliance practices saying, “Compliance has top priority at LeoVegas and is an area the company is continually developing in order to meet the requirements the regulator, but also the company itself, puts on its operations.”