Sweden’s gambling watchdog, Spelinspektionen, has been directed by the government to undertake a comprehensive assessment concerning the risks of gambling accounts being exploited for criminal purposes, including money laundering. This initiative is part of a broader effort to ensure the integrity and security of the country’s gambling sector.
The task, identified under Fi2023/03186, mandates Spelinspektionen to conduct an in-depth review of the potential misuse of gambling accounts and to propose measures to bolster the existing regulatory framework if necessary. These measures will be formulated with careful consideration of Sweden’s socio-economic context and the specific challenges it faces in combating criminal activities within the gambling industry.
Furthermore, Spelinspektionen is to explore the feasibility and implications of incorporating gambling accounts into the existing account and safe deposit box system. This system aims to facilitate easier access for authorities to information regarding the ownership of financial accounts and safes, thereby aiding in the prevention and investigation of financial crimes.
Currently, the Swedish Tax Agency employs a technical platform known as Mechanism, which enables authorized bodies to swiftly access needed data about accounts and safes held by credit and investment firms. The inclusion of gambling accounts in this system is expected to enhance regulatory oversight and enforcement capabilities.
The findings from this comprehensive review, along with any recommendations for regulatory enhancements, are scheduled to be submitted to the Swedish Government Office by May 31, 2024. This report will also address the anticipated additional costs associated with extending the account and safe deposit box system to include gambling accounts, ensuring that any expansion is carried out in a cost-effective manner.
Spelinspektionen had until March 15, 2024, to complete a cost analysis based on data from the Swedish Tax Agency, but it efficiently completed this task ahead of schedule, delivering its findings to the Ministry of Finance on March 7, 2024.
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