Spelinspektionen, the Swedish regulator, has restricted three gambling operators from operating in the country. According to the regulator, it found that EOD Code SRL, Igloo Ventures SRL, and MIBS NV were targeting Swedish consumers. They did so without holding a local gambling license.
Advertising spaces on Swedish websites and influencers on Instagram and Twitch, the regulator stated they used affiliates. The action follows similar restrictions issues in April against Newera Frozen PTE Limited, Aprodi Limited, as well as Galaktika NV.t.
It said that they prioritize measures that contribute to gambling taking place with operators who have a Swedish gaming license. The Swedish Gambling Authority has clarified the reasons behind its decisions to ban illegal online gambling. It published these explanations on its official website.
For now, Spelinspektionen has launched supervisory proceedings against More Tech Group. This licensed gambling operator runs the websites lottoexperten.se, lottoexperten.com, and superlottoclub.com. It will examine whether the company has complied with regulatory obligations under Sweden’s Gambling Act. This includes obtaining written consent for telephone sales, banning the promotion of gambling on credit, and verifying player identities against the national self-exclusion register, Spelpaus.
In early May, Spelinspektionen dealt a SEK 10 million or €920,000 fine to Spooniker of Kindred Group subsidiary for customer due diligence failings. The regulator said the size of the fine takes into account previous failings identified in 2022. This led to a review in 2024.
It stated that the operator had failed to complete sufficient verification of sources of funds of customers, thereby increasing the risk of money laundering.
Spooniker argued that its customer risk classification system requires users to register through Sweden’s electronic identity verification system, Bank-ID. They stated that their verification process met regulatory standards in preliminary assessments. Yet, Spelinspektionen went ahead with the penalty following a review of customer transactions.
