Swedish court nullifies Spelinspektionen's sanctions against ATG
The Administrative Court in Sweden has overturned a penalty imposed on ATG by gambling regulator Spelinspektionen, citing that the firm's anti-money laundering shortcomings were not severe enough
The Administrative Court in Sweden has revoked a sanction imposed on AB Trav och Galopp (ATG) by the national gambling regulator, Spelinspektionen, over alleged shortcomings in anti-money laundering measures.
Spelinspektionen had previously penalized ATG, citing consistent failings in their money laundering and terrorist financing processes and imposing a penalty fee of SEK6m.
However, the court ruled in ATG's favor, stating the operator's violations were not severe enough to justify the warning and penalty.
ATG's CEO, Hasse Lord Skarplöth, hailed the decision as a "very important" victory, while raising questions about the regulator's request to increase future penalty fees.