Kanon Gaming Limited Fined SEK 7 Million by Swedish Regulator for Multiple Breaches

Kanon Gaming Limited has been fined SEK 7 million ($668,000) by the Swedish regulator, Spelinspektionen, due to several breaches, including inadequate protection measures for players exhibiting signs of excessive gambling.

Kanon Gaming operates four licensed websites in Sweden: casinoepic.se, casinogami.se, frejacasino.se, and lokecasino.se. An initial investigation into Kanon's activities led to an audit which concluded that the company violated Swedish gaming laws regarding the duty of care outlined in the Gaming Act (2018:1138).

The audit revealed that Kanon failed to seize opportunities to protect customers who displayed signs of problem gambling. Additionally, the company did not implement appropriate measures to assist potential problem gamblers aged 18-24 years.

These findings were based on customer data collected during the audit, focusing on players within specific age groups and demographics who had incurred significant losses with Kanon Gaming.

This year, Kanon Gaming has faced legal issues before. In January, the operator was fined €67,000 by Malta's anti-money laundering authority. The company breached regulations by failing to verify the source of funds for its players. The Financial Intelligence Analysis Unit (FIAU) noted that Kanon failed to gather information on where 90% of its players obtained their funds.

In other regulatory news related to Sweden, last month, Hacksaw Gaming faced regulatory action from Spelinspektionen. The iGaming studio was fined SEK 2.6 million for its own regulatory failures, which included providing software to unlicensed operators.

By fLEXI tEAM