Should William Hill and other operators have their banking agreements cancelled, it would mean potentially massive losses for the companies as they are forced to find new ways to remain active. The decision was due to the bank’s belief that the gambling sector is “more susceptible” to money-laundering activity than conventional businesses. The bank is preparing to sever its relationship with gambling operators, including William Hill, and cancel all related corporate banking agreements. William Hill isn’t happy with how the gambling industry is developing in Sweden and has vowed to take action.Īfter the country’s Skandinaviska Enskilda Banken AB (SEB) bank recently stated that it would stop serving the gambling industry over money-laundering concerns, the UK-based company has joined other operators in launching a complaint to Swedish authorities.Īccording to an exclusive report by EGR, William Hill, which operates the Mr Green brand in Sweden, sent a request to the Swedish Financial Supervisory Authority (Finansinspektionen) for it to intervene in the ongoing dispute. The bank recently stated that it would stop serving the gambling industry over money-laundering concerns.The complaint argues that the ban breaks anti-competition regulations, among other violations.The Swedish bank believes the gambling industry is breeding grounds for money laundering.The operator has requested an injunction to stop the SEB bank from closing its accounts.
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