Spooniker, a subsidiary operator of the French gambling giant FDJ United’s Kindred Group, has been hit with a SEK 10m [$1m] penalty in Sweden.
In a statement posted on its website, the Swedish regulator, Spelinspektionen, explained that Spooniker – a former Kindred brand but now part of FDJ after the French company acquired Kindred – has been found lacking sufficient customer due diligence procedures.
As per the statement, Spooniker had failed to identify the exact source of funds being processed through its systems, leading to potential exploits from bad actors.
“They have not been able to determine whether the customers’ activities were legitimate or whether they posed a risk of money laundering or terrorist financing,” Spelinspektionen’s statement added.
