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Swedish insurance company removes all gambling operators from portfolios

Written by Adam Cadle
06/10/2020

Swedish insurance company Länsförsäkringar Fondförvaltning has decided to remove all gambling operators from its portfolios.

The company originally shed 20 gaming companies in Q1 and added another 28 – predominantly those offering online casino and poker – this summer.

Länsförsäkringar Fondförvaltning sustainability manager Sofia Aulin claimed the purge was the result of a money laundering risk assessment produced by Sweden’s Spelinspektionen gambling regulator earlier this year. The report claimed that online casinos were prime sources for money laundering.

“Getting rid of these types of investments in the funds we offer is a step forward in our work with responsible investments,” Aulin said.

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