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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.”

Inferno Mayhem

PG Soft cranks up the volume with electrifying Inferno Mayhem slot

Published

3 hours ago

March 9, 2026

Wladimir P.

pg-soft-cranks-up-the-volume-with-electrifying-inferno-mayhem-slot

PG Soft, the acclaimed mobile game developer, has turned up the heat with Inferno Mayhem, a 5×5 video slot that fuses rock concert intensity with thrilling gameplay. The story unfolds as players step back into the spotlight after Lennox, the king of the stage, mysteriously vanished mid-performance, leaving fans craving a show-stopping experience.

Gameplay and Features

Inferno Mayhem combines collapsing reels, respins, and Wild symbols with multipliers up to x500, immersing players in a roaring rock show atmosphere. Every spin builds toward a mosh pit crescendo, keeping adrenaline levels high.

Respin Feature: Wild symbols can appear on any spin, sometimes carrying multipliers from x2 to x500. When Wilds land, wins are multiplied by the combined total of all multipliers, and a free respin is awarded. Locked Wilds during respins dramatically increase winning potential.
Free Spins Feature: Triggered by Scatters:
- 3 Scatters = 10 free spins
- 4 Scatters = 12 free spins
- 5 Scatters = 15 free spins
  Wild symbols that appear during free spins remain locked until the round ends, boosting chances of epic wins.
Super Feature Buy: For players seeking maximum thrill, this option ensures all Wild symbols carry multipliers between x2 and x500 throughout free spins.

With a maximum win of x25,000 the bet and high session volatility, Inferno Mayhem delivers an electrifying, headbanging experience.

PG Soft commented:
“With Inferno Mayhem, we wanted to capture the adrenaline of a live rock show and bring it to the reels. From the heavy-hitting Respin Feature to the power-packed Free Spins, this hit title has been crafted to get players headbanging while the guitars shred alongside the action.”

Inferno Mayhem exemplifies PG Soft’s signature approach of combining cinematic themes, innovative mechanics, and high-stakes excitement for mobile players.

The post PG Soft cranks up the volume with electrifying Inferno Mayhem slot appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Celtic Coins

Spinomenal expands Hold & Hit 3×3 series with Celtic Coins

Published

3 hours ago

March 9, 2026

Wladimir P.

spinomenal-expands-hold-&-hit-3×3-series-with-celtic-coins

Leading iGaming content provider Spinomenal has launched its newest release, Celtic Coins – Hold & Hit 3×3, expanding its popular Hold & Hit 3×3 series with a charming Irish twist.

Set against a lush emerald backdrop with a golden border, the game pairs a light-hearted, Irish-inspired soundtrack with a visually engaging 3×3 reel layout. Players encounter a golden Pot of Gold Wild, substituting for all symbols except the Bonus and Bonus Collect. The Bonus symbol appears on reels one and three, while the Bonus Collect is exclusive to reel two.

Landing a Bonus Collect alongside one or more Bonus symbols triggers the Bonus Game, where the triggering symbols remain locked in place. Players fill empty spots and can earn multipliers ranging from x1 to x15 of the total bet. Jackpots include the Mini (x25), Minor (x50), Major (x150), and Grand Jackpot (x1000), with the chance to win up to x5000 the total bet for hitting the maximum. Every Bonus or Bonus Collect symbol refreshes the spin counter to three, keeping the excitement high.

Additionally, the Bonus Blast Feature can activate randomly during the base game, adding more Bonus and Bonus Collect symbols to help trigger the Bonus Game.

Omer Henya, Co-CEO of Spinomenal, said:
“Celtic Coins – Hold & Hit 3×3 is another classy addition to our growing Hold & Hit 3×3 series. The coin-locking feature is on the money and makes for an incredibly exciting reel experience that is perfectly complemented by the jackpots and multipliers on offer.”

The launch reinforces Spinomenal’s commitment to innovative, feature-packed slots that combine visually rich themes with rewarding gameplay mechanics.

The post Spinomenal expands Hold & Hit 3×3 series with Celtic Coins appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Betting.za.com

Betting.za.com supports amendments strengthening South Africa’s voluntary exclusion system and compliance requirements

Published

3 hours ago

March 9, 2026

Wladimir P.

bettingza.com-supports-amendments-strengthening-south-africa’s-voluntary-exclusion-system-and-compliance-requirements

Betting.za.com, a leading South African information site for online betting and gambling, has welcomed the publication of draft amendments to the National Gambling Regulations, 2004 in Government Gazette No. 54106, issued under Government Notice R. 7113 by the Department of Trade, Industry and Competition.

The proposed changes focus on improving the administration and enforcement of South Africa’s Voluntary Exclusion Programme through the National Register of Excluded Persons, alongside updates to technical rules for gambling machine re-certification.

“Stronger, clearer processes around voluntary exclusion are an essential part of player protection,” said Dennis Kumar, lead betting expert at Betting.za.com. “Anything that makes it easier to self-exclude, harder to bypass, and clearer for licensed operators to implement should be supported — because gambling should always remain safe, controlled, and within limits.”

Key Amendments Proposed in the Gazette

1. Clearer Registration for Voluntary Exclusion
Players wishing to self-exclude must submit a notice to the National Gambling Board (NGB) using Form NGB 1/1, in hard copy or electronically, including a recent passport-sized photo or digital image meeting minimum specifications.

2. Defined Timelines for Handling Notices

Operators must forward exclusion notices to the Board on the day they receive them.
The Board must process the notice within five days (excluding weekends/public holidays) and share it with license holders and provincial authorities.
Operators must implement administrative procedures within five days after receipt.
Exclusion takes effect 10 days after submission to the Board.

3. Strengthened Internal Controls
License holders must submit internal control measures to provincial authorities within 90 days of the regulations taking effect, ensuring effective enforcement in gambling venues. Provincial authorities then report both internal controls and provincial registers to the Board.

4. Updated Gambling Machine Re-certification Rules
The amendments revise timing for technical re-certification of gambling machines and devices, including a 24-month window in certain circumstances.

5. Updated Forms
Forms NGB 1/1 and NGB 1/2 have been revised and included in the Gazette annexure.

What This Means for Players

Voluntary exclusion provides a formal “opt-out” mechanism for anyone wanting to limit their gambling activity. Once registered:

Players are excluded from designated gambling areas nationally
Names are added to the National Register of Excluded Persons
Gambling while excluded may result in forfeited winnings, remitted to the Board

The updated forms also reference support services, including the National Responsible Gambling Programme (NRGP) toll-free helpline: 0800 006 008, and an SMS/WhatsApp line.

Implications for Operators and Regulators

The draft regulations emphasize speed, consistency, and accountability:

Operators must escalate notices same-day to the Board
The Board has five days to capture and distribute the notice
Operators have five days to implement administrative processes
Mandatory submission of internal control measures ensures auditability and compliance

Betting.za.com: Championing Safer, Transparent Gambling

Betting.za.com provides independent, plain-language guidance on betting and online casino topics, focusing on licensed operators and player protection.

“Our mission is to be South Africa’s most reliable source for betting and casino information,” said Kumar. “This includes making regulatory updates easy to understand, highlighting practical tools like voluntary exclusion, and ensuring players know where to get help if gambling stops being fun.”

About Betting.za.com
Betting.za.com is South Africa’s trusted destination for expert betting and casino information. Led by Dennis Kumar, the platform publishes independent reviews, guides, and industry updates to help players make informed, safe choices.

Responsible gambling support: NRGP toll-free helpline 0800 006 008

The post Betting.za.com supports amendments strengthening South Africa’s voluntary exclusion system and compliance requirements appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.