MrGreen Sanctioned in Sweden

This story was published more than 2 years ago.

Online betting operator Mr Green Limited has been fined and issued a formal warning by the Swedish gaming regulator Spelinspektionen for violations of money laundering procedures and gambling liability.

Mr Green was fined SEK 1.5 million for failing to take necessary steps to be able to recognize money laundering risks from its customer base. A formal warning was also issued. Furthermore, the company was fined an additional SEK 30 million for failing to protect players from excessive betting and reduce the ability for players to lose large sums of money. This fine was also accompanied by a second formal warning.

A statement by Spelinspektionen on the sanctions read in part: "The shortcomings are considered serious and therefore the two warnings are combined with penalty fees. According to the Money Laundering Act, the maximum penalty amount for having breached compliance with the Money Laundering Act is one million euros, while the Gaming Act allows a significantly larger amount in penalty fees, as it is calculated on the gaming company's turnover."

No comment from Mr Green was available as of press time.

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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usbarbadosslim93
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26 August 2021 - 2:31pm
#1

According to Google that second fine is pretty freaking hefty. Good lord.

lvblck
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27 August 2021 - 1:50pm
#2

Oh wow, around 3 million Euros in fines! If they don't learn a lesson from this, it could also potentially result in losing their Swedish license. It has happened before to other operators for similar mistakes.