Norwegian Lottery Authority fines Norsk Tipping NOK 1M over serious AML gaps, citing weak customer risk checks and monitoring failures that exposed the operator to ML/TF risks

The Norwegian Lottery Authority (Lotteritilsynet) imposed the fine after identifying multiple deficiencies in Norsk Tipping’s AML framework, including inadequate customer identification, insufficient understanding of source of funds and gaps in risk-based monitoring. Although no actual money laundering was detected, the regulator found that system and control weaknesses undermined the operator’s ability to prevent and detect financial crime, particularly due to incomplete KYC data and insufficient compliance routines…