The Swedish Gambling Authority, Spelinspektionen, has issued new guidelines on money laundering and terrorist financing, along with a new risk assessment.
Reports submitted to the Financial Intelligence Unit (FIPO) by the gambling industry are reportedly increasing, hence the release of the latest guidance and risk assessment.
In May, the European Gaming and Betting Association (EGBA) expressed support for the EU's Anti-Money Laundering (AML) scheme. The European Council approved the EU's new AML scheme, ultimately establishing a new framework for combating financial crime within the EU.
Worth noting: The Danish Gambling Authority, Spillemyndigheden, released an updated version of its AML guidelines in June
In 2024, Spelinspektionen is committed to researching money laundering issues, preparing for the review by the Financial Action Task Force, and participating in the newly established EU Anti-Money Laundering Authority (AMLA) as well as the upcoming EU regulations on money laundering.
Besides, the agency has also conducted lectures on the risks of money laundering in the gambling industry this year and made recommendations, pointing out that accounts and companies could be used for illegal activities.
Its anti-money laundering efforts are assisted by the Swedish Financial Supervisory Authority, the Swedish Economic Crime Authority, and the Swedish Financial Police.
The Director-General of the Gambling Authority, Camilla Rosenberg, stated: "The gambling sector is a risk area for money laundering, and we believe there is a need for further clarification and guidance in this area.
"Therefore, we have revised the guidelines and are conducting a new risk assessment."
