First announced in a bill introduced in December last year, the changes primarily relate to payment providers and Spelinspektionen’s regulatory powers in this area.
With the bill now having been approved, payment providers will now be required to submit certain information to Spelinspektionen. This includes details on whether their systems are being used to process payments to and from unlicensed operators in Sweden.
The government said that the changes would enable a more efficient system for blocking payments, allowing the regulator and payment providers to work together to combat unlicensed gambling.
“Illegal gambling business causes great damage and must be removed from the Swedish gambling market,” Sweden’s Minister of Financial Markets Niklas Wykman said. “What we are doing now is aimed at blocking payment mediation for such criminal activities and thereby increasing the protection for Swedish consumers.”
The regulatory changes will come into effect from 1 July.
Greater cooperation
Confirmation of the new laws come after the government in its Spring Amendment Budget also announced Spelinspektionen would receive an increased grant to help strengthen its activities against illegal gambling.
In addition, the government called on Spelinspektionen and national financial supervisory authority Finansinspektionen to work closer together to combat illegal gambling.
The government said collaboration between the two bodies could help strengthen efforts to ensure greater control over monetary transactions related to gambling.
Original article: https://igamingbusiness.com/legal-compliance/spelinspektionen-handed-new-regulatory-powers/
