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BOS Claims Swedish Banking Institutions Have Suspended Services Provided to Licensed Gambling Operators

Published

5 years ago

April 26, 2021

Reading Time: 3 minutes

Gustaf Hoffstedt, secretary-general of the Swedish trade association Branscheforenigen för Onlinespel (BOS), has claimed that all of the country’s major banking institutions have suspended services they provide to licensed gambling operators.

BOS said that “all major Nordic banks” – including SEB, Swedbank, Nordea, Handelsbanken, DNB Nor and Danske Bank – stopped providing services to Swedish-licensed gambling operators at some point this year.

Claiming this is in violation of Swedish law, Hoffstedt has filed a complaint to the country’s Financial Supervisory Authority (Finansinspektionen).

Most of these banks, Hoffstedt said, cited internal risk assessments or Sweden’s Anti-Money Laundering Act (PTL) as the reasons for account closures. The BOS secretary-general added that “in some cases the banks have not stated any reason at all”.

“As far as I am aware, no concrete justification for the dismissals and banks’ assessment has been provided in any case,” Hoffstedt said.

Hoffstedt added that gambling operators cannot function without banking services.

“Online gambling companies are, as stated above, dependent on basic financial infrastructure in the form of banking and payment services to conduct their business,” he explained. “This requires [them] to be able to store customers’ funds as well as receive deposits and make payments to customers.”

He added that the suspension of services meant that operators could no longer use Bank-ID, used to verify players’ identities. This meant they had lost access to a tool that was vital for fighting fraud and money laundering, Hoffstedt.

“Without access to the Bank-ID system, online gambling companies need to use alternative solutions to identify their customers. These solutions risk being neither as effective for companies nor as safe for users,” he explained.

Swedish Banks also provide the Swish payment service, which Hoffstedt said was also “very important” for operators.

Hoffstedt said that the banks’ decisions had worsened operating conditions for the country’s igaming licensees, as well as counteracting the goals of the Gambling Act.

He went as far as arguing that the actions were illegal.

Hoffstedt said banks have a contractual obligation to continue to provide banking services to these customers, unless there is a clear reason to break this agreement. Only in incidents where continuing to provide banking services would violate the PTL, or if the banking customer had committed misconduct, could agreements be broken, he claimed.

While Hoffstedt noted that banks may terminate agreements if they suspect a customer has connections to money laundering, he pointed out the PTL made clear that these assessments are at the customer level. They can, therefore, not be applied on a sweeping basis to a legal industry.

“Given that a large proportion of BOS members also received notice or notice of termination from the banks – all with general and overarching references to the risk of money laundering in the business – it seems obvious that the basis for the dismissals is a general business policy decision rather than a valid application of PTL,” he said.

“Under these circumstances, there is no possibility for the banks to deviate from their contractual obligation.”

BOS requested a dialogue with the Financial Supervisory Authority and said the regulator “should initiate a supervisory investigation of the banks’ handling and possibly intervene against the banks”.

SEB – one of the banks mentioned by BOS – however, argued it was not systematically ending relationships with gambling operators but rather examined the risk for every client on an individual basis.

“We always make an individual assessment of individual client relationships,“ SEB said. “When it comes to gambling companies, we generally have a cautious approach based on the raised risk level, not least connected to risks relating to money laundering and financial crime.”

Danske Bank, meanwhile, denied it had a policy specifically preventing gambling businesses from operating, but did say these businesses undergo a stricter screening process.

“Danske Bank does not exclude banking services for gambling operations as such,” Danske Bank said. “However, our assessment is that the gambling industry in general is associated with high risk and due to that we have tailored screening principles to ensure that the companies operate responsibly.

“In a case where a specific gambling client does not meet the requirements of our KYC-process or ESG-assessment, the ultimate consequence could be that we limit our offerings or refrain from enter into a business relationship.”

Casino Content

Habanero launches Nuwa Deluxe slot with variable paylines and two-tier free spins

Published

2 hours ago

May 27, 2026

Wladimir P.

habanero-launches-nuwa-deluxe-slot-with-variable-paylines-and-two-tier-free-spins

Habanero has launched Nuwa Deluxe, a 5×3 slot themed around Chinese mythology. The game introduces a variable payline system and a progression-style Free Games feature that can unlock a second-tier bonus, according to the supplier.

In the base game, paylines can upgrade at random on any spin, moving from 28 to 38, 58 or 88 active lines. The title also includes expanding Wilds that cover the entire first and third reels.

During Free Games, players collect five element symbols. Completing the set during the round unlocks Super Free Games, where full-reel Wilds are guaranteed on two reels on every spin.

Habanero said Nuwa Deluxe supports its Jackpot Race and Buy Feature. The launch follows recent releases Steampunk Plinko and Raiden Shogun.

Toni Karapetrov, Head of Corporate Communications at Habanero, commented: “Nuwa Deluxe is an exciting new release that boasts a variable payline system to keep engagement high at the base game, while the element collection mechanic in free spins gives players something to work towards beyond simply triggering the bonus.

“The Super Free Games tier is where the action really kicks in with guaranteed full-reel Wilds on every spin. It is another strong addition to our portfolio and one we expect to have a genuine impact with players.”

The post Habanero launches Nuwa Deluxe slot with variable paylines and two-tier free spins appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

BetVictor

BetVictor Launches 100/1 England World Cup Offer

Published

2 hours ago

May 27, 2026

Wladimir P.

betvictor-launches-100/1-england-world-cup-offer

BVGroup’s flagship brand, BetVictor, has launched a new World Cup promotion offering new customers an enhanced 100/1 odds on England to win this summer’s tournament, as excitement continues to build ahead of football’s biggest stage.

The enhanced price forms part of BetVictor’s wider World Cup campaign, with the brand set to roll out a range of offers, odds boosts and engagement activations throughout the tournament.

With England widely viewed as one of the strongest teams heading into the competition, BetVictor’s latest campaign is designed to tap into growing excitement around the Three Lions and the return of international football’s biggest stage.

The campaign is being supported by a bespoke TV advert, alongside radio and OOH activity, as BetVictor continues to expand its football-focused marketing around major sporting events.

BetVictor spokesman Sam Boswell said: “We know everyone’s favourite thing when having a flutter is getting a bit of value, which is exactly why we’re offering new customers 100/1 on England to finally bring football home this summer. It’s a huge price for what we hope could be a massive moment for the Three Lions and their fans. All our existing players will also get to join in the fun with exciting Super Boosts and Odds Boost tokens throughout the tournament which promises to be bigger and better than any World Cup we have seen before.”

The enhanced 100/1 offer is available for a limited period via the BetVictor app and website.

The post BetVictor Launches 100/1 England World Cup Offer appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

executive-moves

Yaspa hires Justin Fears as US Director, Enterprise Sales

Published

2 hours ago

May 27, 2026

Wladimir P.

yaspa-hires-justin-fears-as-us-director,-enterprise-sales

Yaspa has appointed US fintech and gaming executive Justin Fears as US Director, Enterprise Sales, as the company pushes further into North America. The company said Fears will be based in its Atlanta office and will lead strategic commercial growth across the region.

Yaspa said Fears will focus on working with gaming operators to modernise payment experiences using real-time bank payments and transaction intelligence, and will work with its US and global commercial leadership teams to scale partnerships and adoption.

Fears brings more than 18 years of experience across payments, fintech, SaaS, and AML compliance in the gaming sector, according to Yaspa. His previous roles include senior positions at Kinectify, First Data Corporation, Glory Global Solutions, DiTronics Financial Services, NEXGEN Technology, and CASINOMONEY. Yaspa also noted he is a United States Air Force veteran.

James Neville, CEO of Yaspa, said: “We’re delighted to welcome Justin to the team as we accelerate our footprint in the US market. His deep operational understanding of gaming-focused financial infrastructure, compliance technologies, and enterprise sales leadership makes him an incredible asset. Justin’s appointment further strengthens our local team and underscores our commitment to helping North American operators lower costs, reduce fraud, and elevate the player experience through open banking.”

Fears said: “I’m excited to join Yaspa at such an important stage in the company’s growth journey. The combination of open banking, innovative payment solutions, and intelligent transaction data represents a significant opportunity within the US iGaming market, particularly as operators continue to prioritise player experience, fraud reduction, and payment efficiency. Yaspa has built an innovative platform uniquely positioned to support the evolving needs of regulated operators, and I look forward to helping expand the company’s presence and strategic partnerships across the US.”

Yaspa said it was named winner of the Real-Time Payments Innovation award at the 2025 Payments Awards and was included in the CB Insights Top 100 Fintechs list in the past 12 months. The company also referenced a $12m investment round in July led by Discerning Capital, and said it has opened a new Atlanta office and a tech hub in Leeds, UK, in August 2025.

The post Yaspa hires Justin Fears as US Director, Enterprise Sales appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.