meta_id 3154734

On May 7, 2026, the Gambling Supervision Service (Lošimų priežiūros tarnyba, LPT), the gambling regulator under Lithuania's Ministry of Finance, imposed a fine of €468,350 on UAB Olympic Casino Group Baltija, which operates the "Olympic Casino" and "Olybet" brands, for failing to properly verify the source of customer funds. The LPT conducted an unscheduled special inspection following information that an individual had lost substantial sums across multiple companies, including UAB Olympic Casino Group Baltija. The investigation revealed that the operator lacked sufficient information about the customer's fund sources and therefore could not adequately monitor their gaming activity or identify suspicious transactions. The LPT found that the operator failed to assign an appropriate risk level to the customer in a timely manner and did not conduct enhanced customer due diligence as required. These failures violated requirements under Lithuania's Money Laundering and Terrorist Financing Prevention Act concerning customer knowledge, business relationship monitoring, and individual customer risk management. Despite the customer's activity exhibiting multiple suspicious indicators—including large betting amounts, unexplained fund sources, increased gaming activity, and a Financial Crime Investigation Service (FNTT) inquiry—the operator failed to report suspicious financial transactions to the FNTT and did not document this decision. In determining the penalty, the LPT considered aggravating and mitigating factors. While the operator cooperated during the inspection and provided requested information, the violations persisted for more than one year, were systematic in nature, and the operator received financial benefit from the customer. The decision remains subject to court appeal.