Sweden’s Casino Cosmopol has lodged an appeal against the country’s Lottery Inspectorate for its decision to fine the casino for shortcomings in its anti-money laundering work.
The casino argues that the inspectorate cannot decide on a penalty fee as there is no clear regulation and guidance. The inspectorate sent a message on November 27 regarding the casino’s efforts to counter money laundering and condemned it to a penalty of SEK8m (€778,000) for its failings.
Casino Cosmopol shortly afterwards submitted a plan of action outlining strong efforts in meeting shortcomings and also filed an appeal against the decision to fine it.
In a statement, the casino said that “in this situation it is not proportional to decide on a penalty. Sanction charges shall only be used unless other methods are sufficient. In the absence of clear regulations and guidance from the Lottery Inspectorate, it cannot be considered correct to decide on a penalty fee.”
