Olympic Casino Group Baltija, the Lithuanian subsidiary of Estonia’s Olympic Entertainment Group, the Baltics’ largest gaming operator, has been slapped with a fine of 495,000 euros, local Delfi.lt reported with the link to BNS.
The Lithuanian Gaming Control Authority imposed the fine for serious violations of the Law on the Prevention of Money Laundering and Terrorist Financing. The company failed to additionally verify the identity of three customers who exchanged 42,200 euros in cash for chips at gaming tables in a casino in Panevezys, the authority said in a press release. A spot inspection carried out at the Olympic Casino in Panevezys in 2018 revealed that the transactions had not been entered into the register of transactions.
The law requires that gaming companies additionally verify the identity of a customer who exchanges more than 1,000 euros in cash for chips per 24 hours. Serious violations of the law are punishable by a fine of between 2,000 and 1.1 million euros.