The Gambling Supervision Authority under the Ministry of Finance of the Republic of Lithuania ("the Gambling Supervision Authority") fined UAB Olympic Casino Group Baltija EUR 495 900 for failing to carry out additional checks on three gamblers who gambled at the gaming tables in the gambling house (casino), at the gambling houses in Panevėžys and exchanged cash for chips, the total amount of which was EUR 4 200, and did not register them in the mandatory logbook, thereby committing a serious infringement of Article 9(9) of the Law of the Republic of Lithuania on the Prevention of Money Laundering and the Financing of Terrorists.
In 2018, the Gambling Supervision Authority carried out an unscheduled special inspection of the gambling houses (casinos) of UAB Olympic Casino Group Baltija, located in Panevėžys, to assess the company's compliance with the requirements for the organisation of gambling and the prevention of money laundering and terrorist financing.
The inspection found that 3 gamblers exchanged cash for chips in the amount of €4,200 in a 14-hour period over a one-day period at the company's gambling houses. These transactions were not recorded in the logbook. Pursuant to the Law of the Republic of Lithuania on the Prevention of Money Laundering and Terrorist Financing, the company was obliged to re-identify the customers who carried out the related cash-for-chips transactions in excess of EUR 1 000 per day. Once identified, such cash transactions had to be recorded permanently and immediately in a logbook.
Non-compliance with the requirements for the identification of the client is considered a serious violation of the Law of the Republic of Lithuania on the Prevention of Money Laundering and Terrorist Financing in accordance with Article 34 of the Law.
The Gambling Supervision Authority imposed the fine in accordance with the Law on Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania, which provides for the possibility of imposing fines for serious infringements in this area, ranging from EUR 2,000 to EUR 1.1 million per company.
The decision of the Gambling Supervisory Authority can be appealed to the courts.
Source: www.lpt.lt
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