Online gaming operator Kanon Gaming Limited has been fined 7 million Swedish Kronor (approximately $668,000) by the Swedish regulatory authority Spelinspektionen for multiple violations, including insufficient protective measures for players showing signs of excessive gambling.
Kanon currently operates four licensed sites in Sweden, namely casinoepic.se, casinogami.se, frejacasino.se, and lokecasino.se. An initial investigation into the operator's activities led to an audit that concluded Kanon had breached the duty of care provisions in the Swedish Gambling Act (2018:1138).
More specifically, the company was found to have missed opportunities to assist customers showing signs of gambling problems. Additionally, the company failed to implement adequate measures to help potential gamblers aged 18-24.
These conclusions were drawn after auditing customer data from specific age groups and demographics who suffered significant losses at the hands of the operator.
This is not the first legal infraction for Kanon this year, as in January, the operator was also fined €67,000 by Malta's anti-money laundering authority for failing to ascertain the source of players' funds.
The Financial Intelligence Analysis Unit (FIAU) stated that Kanon failed to collect information on the source of funds for 90% of its players.
In other regulatory news related to Sweden, Hacksaw Gaming was also subject to regulatory intervention by Spelinspektionen last month. The iGaming studio was fined 2.6 million Swedish Kronor for errors including issuing software to unlicensed operators.
