Connect with us


Videoslots Hit with Fine Over AML Lapses by Swedish Regulator



In a decisive move, Sweden’s Spelinspektionen levies a substantial fine on Videoslots for non-compliance with stringent AML directives.

As the regulatory magnifying glass scrutinizes the operator’s customer interactions, revelations of significant discrepancies in due diligence emerge, bringing AML practices to the limelight.

While facing financial repercussions, Videoslots is recognized for its concerted improvements, reflecting a commitment to rectifying the compliance course and fortifying its operations against misuse.

Industry peers and consumers alike are called to observe the tightened regulatory grip, as Videoslots’ experience serves as a critical compliance touchstone in the gambling sector.


The Swedish gambling regulator, Spelinspektionen, has imposed a penalty of SEK9m (approximately €760,000) on Malta-based gaming company Videoslots for breaches in anti-money laundering (AML) and counter-terrorism financing laws, spotlighting gaps in the operator’s adherence to customer knowledge requirements.

Upon examination of customer activity from 2019 to 2021, a disturbing mismatch between customer deposits and reported incomes was uncovered, with one case showing a deposit of over SEK5m against an income of merely SEK57,000. The lapse allowed continued significant transactions for two years post initial risk identification by Videoslots.

Responding to the penalty, Videoslots argued that the selected cases were outliers and not reflective of their overall compliance efforts. They emphasized their routine reporting of suspicious activities to Sweden’s financial watchdogs. Nevertheless, Spelinspektionen stood firm, reiterating the operator’s obligation to conduct thorough investigations to mitigate the risks of money laundering and terrorism financing, citing multiple infringements of the Money Laundering Act.

Despite acknowledging Videoslots’ cooperative stance and the improvements made, Spelinspektionen noted the efforts were not sufficiently proactive or risk-based, leading to outdated and inadequate customer knowledge. The implication of such shortcomings could result in potential exploitation of the company’s services for illicit ends.


In parallel, the Swedish Ministry of Justice is sharpening its legislative tools by proposing stricter credit rules for the gambling industry. Echoing these sentiments, the trade association Branschföreningen för Onlinespel (BOS) has expressed backing for the reforms aimed at prohibiting the promotion of third-party credit sources by gambling operators, reinforcing responsible gambling ethos.

A cornerstone of the proposed reforms is the establishment of the Skri Register, a novel credit and debt ledger, ensuring enhanced monitoring and control over credit-related gambling activities.

The case of Videoslots serves as a pivotal reminder of the perpetual evolution of regulatory frameworks within the gambling domain, underscoring the imperative for operators to maintain rigorous compliance protocols and customer knowledge systems to uphold the integrity of the industry.

Tags: #Videoslots, #AMLRegulations, #SwedishGamblingRegulator, #Spelinspektionen, #Compliance, #GamblingIndustry, #MoneyLaunderingAct, #FinancingOfTerrorism, #GamblingLicence


Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Gamingo.News stands as a premier digital destination dedicated to delivering top-tier news and insights in the gaming and gambling industry. This specialized media outlet garners the attention of over 120,000 readers each month, providing them with engaging content, current news, and in-depth analyses.
The platform offers extensive coverage of various facets of the gaming world, including both online and brick-and-mortar gaming, wagering, esports, updates on regulations and compliance, as well as technological innovations. Regular content includes daily news stories, press releases, unique interviews, and comprehensive reports on events.
Moreover, Gamingo.News organizes webinars pertinent to the industry and offers detailed reports, establishing itself as a comprehensive information source for those interested in learning about gaming market operators, suppliers, regulators, and professional services. The portal's main objective is to keep its large audience informed about the latest news, trends, and developments in the gaming and gambling sectors. It focuses particularly on the European igaming market but also covers significant global news, proving to be an invaluable tool for gaming professionals, operators, and enthusiasts.

For inquiries, reach out at:

For editorial or PR submissions, contact:

Copyright © 2024 Gamingo.News.