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.
Kazino
© Shutterstock nuotr.

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.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Nauseda: EU will approve Brexit deal, doubts remain on UK parliament

EU leaders will likely to smoothly approve the recently-reached Brexit deal on Thursday but doubts...

Cabinet approves new car pollution tax

The Lithuanian Cabinet approved on Wednesday a new tax aimed at encouraging people to buy less...

Alcohol, tobacco and diesel fuel excise tax hikes approved

The Lithuanian Cabinet decided on Wednesday to raise the excise duties on strong alcohol , diesel...

President proposes new measures to block Astravyets electricity

Lithuanian President Gitanas Nauseda on Wednesday proposed new measures to block imports of...

Government considers 2020 budget with revenue and expenditure going up

The revenue and expenditure of Lithuania's 2020 state budget , including EU and other international...