19.12.2023

by Mateusz Mazur

Casino Cosmopol Responds to Spelinspektionen’s Supervision and Implements Anti-Money Laundering Measures

In a recent development, Spelinspektionen, the Swedish Gambling Authority, has concluded its supervisory case concerning Casino Cosmopol’s anti-money laundering efforts during 2019 and 2021.

sweden

While acknowledging the criticism, Casino Cosmopol has also noted that Spelinspektionen recognized the effectiveness of the improvement measures it has implemented.

Addressing Anti-Money Laundering Efforts

Spelinspektionen has issued a warning and imposed a sanction of 2 million SEK on Casino Cosmopol for deficiencies in its customer due diligence processes.

The supervision covered the years 2019 and 2021. As noted by Spelinspektionen, Casino Cosmopol has undertaken various improvement measures during and after the supervision period, which have effectively reduced the risks of money laundering.

Ola Enquist, CEO of Casino Cosmopol, stated, “We have a high ambition for our work and have implemented new comprehensive tools and procedures, which have significantly improved and developed our efforts against money laundering. We accept the criticism from Spelinspektionen and will address any deficiencies that have not already been rectified.”

Implementing Key Improvement Measures

Casino Cosmopol has introduced several key improvement measures. These include registered play on slot machines and gaming tables, reduced threshold amounts for checks, enhanced system support for transaction registration and monitoring, in-depth anti-money laundering training, and increased dedicated staff for ongoing supervision and monitoring.

Ola Enquist emphasized the seriousness of money laundering as a societal issue, stating, “Money laundering is a serious societal problem that must be combated in every way. We will now thoroughly review and analyze Spelinspektionen’s decision.”

Our Comment on the Article

The actions taken by Casino Cosmopol in response to Spelinspektionen’s supervision signify a proactive approach in the gaming industry’s ongoing battle against money laundering.

By implementing stringent measures and acknowledging areas for improvement, Casino Cosmopol demonstrates a commitment to ethical practices and regulatory compliance.

This scenario highlights the importance of continuous vigilance and adaptation in the iGaming industry to maintain integrity and protect against financial crimes. It also underscores the role of regulatory bodies like Spelinspektionen in safeguarding the industry’s standards and public trust.

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