The latest company to have been handed down a fine is Casino Cosmopol which admitted fault and agreed to pay SEK2 million, or $200,000, to the regulator. This penalty is awarded in relation to anti-money laundering (AML) breaches outlined in the watchdog’s conclusion of the case and the two-year investigation.

Cited Breaches Are a Matter of the Past

Spelinspektionen says that certain elements of Casino Cosmopol’s AML processes were insufficient, and the operator had “failed” customer knowledge.  The regulator specifically looked into AML practices, citing previous concerns about compliance with the Money Laundering Act.

Casino Cosmopol, although acquiescing to the latest enforcement action, said that the issues described by the regulator were now an issue of the past and not something that Casino Cosmopol had overlooked to rectify.

The regulator has reflected on the positive changes that the operator had enacted as a result of the intervention and said that it expects Casino Cosmopol to indeed comply with all regulatory criteria moving forward.

Among those are improved money laundering training for staff which should help ensure that team members are fully prepared to meet the highest regulatory standards in the country. Apart from training, the operator uses different tools that help detect and flag suspicious transactions, enabling the company to respond in a timely and firm manner.

Gambling Regulator Is Tough on Financial Crime

Spelinspektionen has been calling for stricter measures when it comes to financial crime in the gambling industry and recently applauded a proposal pitched by the government and designed to, among other things, address AML deficiencies. Interestingly, though, the regulator does not believe that a credit card ban is needed in the country right now.

The proposal, however, also wants to increase the tax collected from gambling businesses to 22% from the current 18%, which has ruffled industry feathers and issued a response from BOS, a trade group that protects the industry’s interests and liaises with the government on various matters, including player protection and regulatory course-correction.

The Swedish Gambling Authority has not spared any effort in going after companies that it thinks are also coloring around regulatory lines. Recently, the watchdog named Videoslots as one of the operators to have breached the country’s CFT and AML mandates and rules.

The amount of the penalty was considerably larger at the time, with the company handed down a $810,000 fine.

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Zitro is delivering its Colossus Fire slot game at the Casino Cosmopol-operated property located in Sweden, which is a state-owned gambling venue. The slot is powered by innovative and cutting-edge technology that makes the gameplay unparalleled and highly rewarding, guaranteeing players a lot of fun as they try the land-based options.

Zitro Makes Swedish Debut with Colossus Fire Slot

Colossus Fire comes with two scalable and independent progressive levels, with the values changing based on how much the player is willing to bet.

The game focuses on thrilling gameplay that will offer players explosive wins and a chance to add large prizes and rewards. The new game was welcomed by Casino Cosmopol gaming specialist Erik Söber who confirmed that the company was very happy to see Colossus Fire become a part of the casino’s offer:

The game’s unique design and visually stunning graphics stands out on our casino floor, and we believe it will appeal to both experienced and new players.

Casino Cosmopol gaming specialist Erik Söber

Zitro EMEA director Nadege Teyssedre was similarly pleased with the development, welcoming the chance to see yet another slot machine supplier join the gaming floor at Casino Cosmopol. The new partnership is doubly important, argues Teyssedre, as it also allows for the slot to debut on the market:

Introducing Colossus Fire to the Swedish market is an exciting opportunity for us to showcase our commitment to providing new and exceptional gaming experiences.

Zitro EMEA director Nadege Teyssedre

The director of EMEA was similarly confident in the success of the new game and its innovative design that brings a ton of fresh features that players locally would definitely appreciate.

The partnership was struck with an important property in the country as Zitro is determined to make this launch a success. Casino Cosmopol makes for the right springboard to introduce more content to the Swedish gaming market in the coming months and satisfy local customers’ preferences.

Zitro has been active all over the globe, with the manufacturer of slot games and dedicated cabinets to support those games expanding globally. The company has been doubling down on its presence in the United States, most recently teaming up with KGM to become the official distributor of its casino equipment and systems in several states, including New York and Connecticut.

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