Swedish Court Upholds SEK 3 Million Fine Against ATG for AML Breaches
Expertise: US Gaming, European Gaming Industry, iGaming
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The ruling stems from a 2022 probe that found ATG’s anti-money laundering (AML) controls failed to adequately mitigate risks of money laundering and terrorist financing.
Judge Louise Millqvist of the Administrative Court concluded the case showed a “breach of fundamental rules on customer control”, noting that the shortcomings involved substantial sums. The court did, however, decline the regulator’s request for a larger financial sanction, finding that while the failings were serious, they did not meet the threshold for a heftier penalty.
RELATED TOPICS: Regulation
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