The Swedish gambling authority Spelinspektionen has published new guidance on money laundering and terrorist financing, as well as a new risk assessment.
The updated guidance and risk assessment come as the number of reports from the gambling industry to the Financial Intelligence Unit (FIPO) is reportedly increasing.
In May, the European Gambling and Betting Association (EGBA) showed support for the EU’s anti-money laundering (AML) package. The European Council approved the new EU AML package, completing the union’s new framework for combating financial crime.
During 2024, Spelinspektionen worked on money laundering issues in preparation for the FATF review, and was also involved in the EU’s preparatory work for the new EU Anti-Money Laundering Authority (AMLA) and the upcoming EU anti-money laundering regulation.
In addition, the authority has conducted discussions throughout the year to provide advice on the risks of money laundering in the gambling industry, with accounts and companies potentially being used to carry out illegal activities.
Its work on combating money laundering has been assisted by the Swedish Financial Supervisory Authority, the Swedish Economic Crime Agency and the Swedish Financial Police.
Spelinspektionen CEO Camilla Rosenberg said:
The gambling industry is a risk area for money laundering and we have seen a need for further clarification and guidance in this area. We have therefore revised our recommendations and are also carrying out a new risk assessment.
