The Netherlands gambling authority, known as Kansspelautoriteit (KSA), has issued a notice to TOTO Online for “violating the Prevention of Money Laundering and Terrorist Financing Act.”
The regulator says the company has fallen short in the ongoing control of business relationships and their transactions, which are supposed to take place after the first client investigation.
“The statement states, among other things, that TOTO Online in certain cases does not sufficiently clearly record why new facts or events do not lead to an adjustment of the risk classifications of clients and why it takes certain management measures. Also, the investigation into the origin of players’ money is not sufficient,” the KSA says in a translated news release.
TOTO Online cooperated during the investigation, the KSA says
According to the gambling authority, gambling providers are required to monitor gambling behavior and investigate it if necessary, such as when suddenly depositing large amounts. The regulator has a Wwft Guideline published on the website, which points out risks like high deposits, even when they come from the player’s own bank account.
TOTO Online is described as having cooperated during the investigation, and some of the violations that were originally found ended before the instruction was made. They now have to terminate the violations within six months, and after this period has ended, the KSA will carry out a re-audit.
The news release was published on December 24, with the regulator having also shared details of a separate incident just a few days prior (December 22) about LeoVegas. It was then that the gaming authority announced it had imposed a fine on LeoVegas because it didn’t sufficiently comply with the duty of care between the period of October 2023 and May 2024.
As a result, a €500,000 fine was imposed, following the KSA having requested several players’ files from the company and finding that they referred to non-compliance with the duty of care.
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