Genesis and Paf casinos fined with 4 million SEK
We've been reporting more often on various regulators, such as the UK Gambling Commission, which just recently imposed a fine of £2 million on 32Red, or LeoVegas, which paid a fine of £600,000. However, this regulator is not the only one to penalize companies that do not comply with the regulations. The Malta Gaming Authority (MGA) also recently withdrew the licenses of two operators. This time around, it's the Swedish regulatory authority that has imposed fines on two online casino operators.
Two fines of 4m SEK and 100,000 SEK
A regulatory authority is a government agency charged with issuing licenses and monitoring compliance. Examples in respect of this include player protection or anti money laundering. The Swedish regulatory authority Spelinspektionen has just fined two operators that failed to comply with the regulations. Genesis Global received an official warning and a fine of SEK 4 million (approximately €380,000). Paf Consulting was fined SEK 100,000 (approximately €10,000).
Penalties for failing to adhere to self-exclusion register
In both cases, the fines were related to the fact that the two casino operators failed to adhere to the self-exclusion register. Players falling on the self-exclusion register were still able to play there.
We've got more information on casino self-exclusions in our self-exclusion article.