Leading Sports Firm Escapes Penalty Following Recent Notice
The gaming enterprise has been repeatedly sanctioned by oversight bodies in recent months for various matters. However, on this occasion, the Lithuanian Gaming Authority opted to issue a cautionary notice rather than a financial penalty after “evaluating all the factors surrounding the identified infractions.” The regulatory body determined that Top Sports Company’s internal protocols were deficient in preventing “illicit financial transactions and terrorist financing.” The agency stated that from the start of 2020 to the beginning of 2023, Top Sports Company failed to conduct suitable risk assessments, monitoring, and staff training.
Persistent Infringements
This is merely the most recent warning in the operator’s expanding list of transgressions. Top Sports Company has been levied financial penalties seven times by the agency this year. In June, the regulator imposed three fines within a single week. The regulator discovered that Top Sports Company contravened rules pertaining to online payments and deposits, underage gambling, and mobile wagering. Earlier this year, the agency ruled that the operator breached regulations concerning remote gaming, promotional activities, and closed-circuit television systems at its retail betting locations.
Home > Law & Compliance > Leading Sports Firm Escapes Penalty Following Recent Notice
In the eleventh month of 2022, authorities cautioned Top Sport that their backing of World Cup forecasting contests was in violation of the regulations.
Top Sport had previously been penalized on three separate occasions by the regulatory body that year, in November, September, and May.
This week, regulators chose not to impose sanctions on Betsafe, despite determining that the sports wagering and online gaming enterprise, under the ownership of Betsson, had breached the nation’s gambling laws.
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