Sweden's gaming regulator Spillemyndigheden has issued a warning to LeoVegas for "violating the rules on customer due diligence procedures" in regards to Denmark's rules for money laundering monitoring.
The warning comes after the regulator ran a random review of 20 high-spending players at LeoVegas from 2017-19 and concluded that the operator didn't follow the rules of the Money Laundering Act. The players analyzed deposited between DKK1.2 million and DKK1.67 million and LeoVegas didn't conduct checks to verify the source of the funds.
LeoVegas also failed to wait to notify the Money Laundering Secretariat, with four of the five players having seen the operator wait between 10 and 22 months to report the large deposits.
The group didn't face any fines as LeoVegas changed their procedures to more accurately conduct checks last year.
Still, the regulator did issue a statement, which said, "The rules on customer due diligence procedures and the duty of investigation and notification are absolutely fundamental in the Money Laundering Act, and violation of the rules is the clear starting point to injunctions or reprimands."