PokerStars is in hot water in Sweden after it wasn’t quick enough in conducting source of funds checks on high rollers, which violated the country’s anti-money laundering (AML) laws.
The Flutter Entertainment-owned brand will pay a SEK 7m ($728,199) fine and received an official warning from Sweden’s gambling regulator, Spelinspektionen, for its transgressions.
An investigation highlighted the slow checks on ten big spenders in 2023 and their insufficient accuracy in determining the users’ behavior in relation to their age bracket.
risk limits were also deemed to be too high to properly prevent fraud
The operator’s risk limits were also deemed to be too high to properly prevent fraud, with single transactions only sparking additional checks if they were $20,000 or $40,000 for combined net deposits.
While PokerStars fought back on certain aspects of the judgment, Spelinspektionen disagreed that its AML systems were sufficient.
