Norsk Rikstoto Hit with €180,000 Fine for AML Compliance Failures

Norsk Rikstoto, Norway's state-owned horse racing betting operator, must pay NOK 2 million (approximately €180,000) in fines for breaching anti-money laundering (AML) requirements, Lotteritilsynet has confirmed.

The Norwegian Gaming Authority's inspection this autumn uncovered six separate violations related to the operator's AML systems. The regulator emphasized it was examining Norsk Rikstoto's compliance frameworks rather than investigating actual money laundering incidents.

"They have deliberately set aside absolute legal requirements that should enable them to detect and prevent money laundering. When they don't have adequate systems, the risk increases that they will be exploited for laundering money," said Tatyana Søreide Klepaker, lawyer at Lotteritilsynet.

Key Violations IdentifiedMissing risk-based customer measures: The operator deliberately chose not to implement proper customer due diligence when onboarding new customers, affecting their ability to react with appropriate measures at the right time. No periodic review of customer relationships was in place.PEP handling failures: Only 15 of 390 politically exposed persons (PEPs) had the legally required enhanced customer measures applied, despite this being an absolute legal requirement.Inadequate risk assessment: The operator failed to properly identify money laundering and terrorist financing risks associated with their gambling products.Data retention breach: Norsk Rikstoto lost portions of customer data they were legally required to store for five years.In addition to the fine, the operator faces potential daily penalties of NOK 50,000 if compliance issues are not rectified by specified deadlines. Norsk Rikstoto has until January 15, 2026 to appeal the decision.