Swedish Gambling Regulator Introduces A New Anti-Money Laundering Reporting System

Swedish Gambling Regulator Introduces A New Anti-Money Laundering Reporting System

Swedish gambling regulator, Spelinspektionen has confirmed the launch of a new anti-money laundering system to facilitate gambling operators in reporting money laundering and terror financing activities.

The new system is goAML which is a better version of the current DAR system which the gambling regulator uses.
While the DAR system would be in operation until next year, it would gradually be replaced by the new system.

With goAML operators will be able to report any suspicious activities or attempts at money laundering by individual criminals or criminal organizations.

The gambling regulator says that the new system would increase the overall quality of reported crime to the Financial Police, among many other intended goals they wish their project to accomplish. Operators who are locally licensed should be able to register for the new report system from December 9, 2019, to January 13, 2020.

Spelinspektionen has been strict on ensuring compliance and restricting money laundering through the country’s casino gambling industry.

Last month, Spelinspektionen, warned payment service providers (PSPs) in the country and has asked them not to be involved in facilitating payments to and for unlicensed gambling operators catering to Swedes.

In a written letter to PSPs, the gambling watchdog has said that in the wake of the new Gaming Act opening up the market for overseas and new players, the call to block payments for unlicensed operators is a step to ensure consumer protection.

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