Lotteritilsynet fines four bingo operators over AML breaches
Enforcement & compliance · SectorWire deskSource published
Source: Lotteritilsynet (Norway) ·
Summary
Norway's Lotteritilsynet has imposed coercive fines on four bingo operators for breaches of the anti-money laundering law, the regulator said. Three of them — O Kristoffersen Bingodrift AS, Royal Bingodrift AS and Master Online AS — have appealed one of four orders to the Ministry of Finance, which is the appeal body; one operator has not appealed. The regulator says the operators lack systematic checks on customer transactions between bingo halls and on the NOK16,000 threshold that triggers extra checks.
Why it matters
The appeal, the first of a Lotteritilsynet AML supervision case to reach the Ministry of Finance, leaves the fines uncollected until it is decided.
Cite as: SectorWire, “Lotteritilsynet fines four bingo operators over AML breaches”, 16 December 2024, https://sectorwire.news/item/lotteritilsynet-fines-four-bingo-operators-over-aml-breaches/
Key facts
- Type
- Fine
- Market
- Norway