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Swedish Court Rejects Mr Green Appeal Over €3.1M Fine
The Administrative Court in Linköping has rejected Mr Green’s appeal against a sanction for breaches of the Money Laundering Act and Gambling Act.
The gambling regulator Spelinspektionen had issued Mr Green with two warnings and fines totalling SEK31.5m (€3.1m) in August due to breaches of know-your-customer (KYC), anti-money laundering (AML) and responsible gambling rules.
The Administrative Court has ruled that Mr Green’s routines on money laundering were lacking and that it violated the Money Laundering Act’s rules on customer knowledge. It found that the two warnings issued by Spelinspektionen were “sufficient” and the penalty fees “proportionate”.
The largest fee of SEK30m relates to breaches of the operator’s duty of care on responsible gambling. A second warning and related penalty of SEK1.5m were issued for AML and KYC failings.
Spelinspektionen launched a review of Mr Green’s AML measures after receiving complaints in November 2019. It inspected 15 customer accounts, including accounts belonging to customers that Mr Green had reported to Sweden’s financial police.
Spelinspektionen said the fact that Mr Green had reported the accounts showed the operator had suspicions about possible money laundering.
The regulator noted that one customer had made deposits totalling SEK39.3m and had lost SEK3.2m despite having a declared income that hardly covered the loss. However, Mr Green had decided not to take further action to investigate possible money laundering after the customer stopped playing.
Spelinspektionen also audited five customers due to responsible gambling measures. It found that Mr Green had attempted to contact all five by email or phone due to increases in their gambling activity but that one customer had made several deposits per day on multiple occasions and had lost more than their announced taxable income for several years.
Mr Green eventually closed these customers’ accounts, but Spelinspektionen said the operator had not made sufficient contact with them to ensure they were gambling with their own funds and doing so responsibly.
Mr Green responded that some customers suspected of money laundering had not been identified due to technical problems with a new detection system that had failed to issue warnings over high-risk customers. It said the new automated system had identified a larger number of customers than expected and had placed customers in a queue according to level of risk, resulting in delays.
It added that it was now using a better case management system to help perform risk assessments and that it has increased its number of money laundering investigators to manage the increase.
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One of betting and gaming’s best-known customer acquisition and comparison businesses, Quantum, has announced the next steps in its ambitious growth plan by welcoming two new director-level appointees.
Joining the business are Dimitris Papamichael as commercial director and Luke Watkin as marketing director – both in newly created roles. They come in alongside a full C-suite and a full team of new tech hires that continues a recruitment drive which began in 2023 – and reflects Quantum’s rapid and consistent growth throughout the last five years.
Papamichael will be responsible for all revenue-generating activities across the business in a pivotal leadership role. He’ll shape Quantum’s commercial strategy as the company diversifies into new verticals while maintaining its strong position in the iGaming sector. He’ll also lead an expanding team of commercial and sales managers.
Watkin will lead the development and execution of the marketing strategy across all business verticals. As marketing director, he’ll be instrumental in shaping Quantum’s marketing vision, building scalable systems, and delivering commercial impact as it expands into new markets. Watkin will build and mentor a high-performing marketing team and is also tasked with driving further recruitment.
Speaking of the appointments and new strategic direction, CMO James McCarthy said: “It’s a pleasure to welcome Dimitris and Luke to Quantum during what is undoubtedly a really fascinating time in our growth. From cementing our relationship with some of iGaming’s biggest names to helping us expand into exciting new sectors, both of our new Directors will be integral to the continued success of the business.”
Papamichael said: “I’m thrilled to be joining Quantum at such an exciting stage of its incredible growth journey. The company has already achieved so much, and there’s huge potential ahead as we expand into new markets and sectors. I can’t wait to work with the exceptionally talented team here to seize the many opportunities ahead and drive the next phase of growth.”
Watkin said: “I am delighted to join a business with such a proven track record of excellence in its core markets, as well as highly ambitious plans for strategic expansion into new markets and territories. I am looking forward to contributing towards building on the exceptional progress the team has made to date, and accelerating that growth in the years ahead.”
This people news comes hot on the heels of the company’s exciting rebrand news of last week, moving toward the “quantum” in QiH Group” as well as redefining the business’ purpose and strategic direction.
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