Swedish gambling regulator, Spelinspektionen, has been authorised the utilisation of some new measures as a component of the Nordic nation’s efforts to protect the public from all threats derived from illicit gambling activity through stringent regulatory action.
Under this new directive the Spelinspektionen will be allowed to purchase gambling services under an anonymous circumstance in order to improve standards and test fail safes with regards to the operation of gambling activities.
On the other side of the coin, payment service providers will be permitted to block various transactions such as bets and payment of winnings to and from unlicensed gaming companies as part of these regulatory alterations.
Additionally gaming companies will be obliged to disclose any information regarding their activities to the police in connection with any gambling related criminal investigations. These include most notably, the threat of money laundering and gambling addiction.
Attempts have also been made within the framework of these modifications to protect professional sport from the long standing issue of match-fixing. As a result, the storage and dissemination of personal data will be accommodated for.
These enactments come in lieu of the recently announced plan from the Swedish government to encourage greater regulatory collaboration between Spelinspektionen and Finansinspektionen, Sweden’s financial supervisory authority.
This collaboration is being motivated in the hopes that these regulatory bodies can, together, enhance the ongoing efforts to ensure greater control and observation related to monetary transactions derived from gambling operations.
In their initial call for this particular co-operation, the Swedish government made reference to new powers that had been issued and made light of the powers that were to follow, including the dual actions highlighted in this article.
The Spelinspektionen director, Camilla Rosenberg, made this statement on the matter:
The strengthened cooperation with the financial supervisory authority will provide good conditions for all tools to be used efficiently, which we see as positive.
To support this new push towards regulatory improvement, the Swedish government also confirmed that a funding boost would be afforded to Spelinspektionen to aid the strengthening of their powers.
The figure estimated at something close to SEK2.4 million formed part of the spring 2023 budgetary amendment which is expected to be passed in June.
This push comes as a direct result of the Enhanced Gambling Regulations Bill, passed into law back in November. Seeking to alter the landscape of Swedish gaming in its entirety, which regardless of result will most certainly require effective and timely regulatory protections for problem gamblers.
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