Spelinspektionen to analyse risk of criminal activity on gambling accounts

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The Swedish government has instructed Spelinspektionen – the country’s gambling authority – to analyse the risks of gambling accounts being used for money laundering and other criminal activities.

The Swedish gambling regulator noted that if there is a need, it must create proposals to counteract such activity, including providing a breakdown of socio-economic consequences.

In addition, Spelinspektionen has also been asked to see if gambling accounts should be covered by the account and safe deposit box system – Konto- och värdefackssystemet – and what would happen if such accounts were added to the system.

The account and safe deposit box system allows authorities to quickly identify accounts and safe holders at financial firms. This is achieved through the Swedish Tax Agency’s technical platform Mekanismen, which allows authorities to directly and immediately receive information about accounts and safe deposit boxes at credit and investment companies.

Earlier this month, Spelinspektionen reported to the Ministry of Finance a calculation of the costs for expanding the account and safe deposit box system to include gambling accounts cost-effectively, using data from the Swedish Tax Agency.

The regulator must report the assignment’s outcomes to the Government Office by May 31, 2024.