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Sweden’s Riksdag Amends Anti Money Laundering Measures

 Sweden’s Riksdag Amends Anti Money Laundering Measures
Sweden’s Riksdag Amends Anti Money Laundering MeasuresReading Time: < 1 minute

 

Riksdag, the national legislature and the supreme decision-making body of Sweden, has made certain amendments to an Act on measures against money laundering and financing of terrorism. The new rules became effective on January 1, 2020.

The Swedish gambling regulator Spelinspektionen said that it has decided to amend some provisions in the authority’s money laundering regulations in order to comply with the law. These changes establish that licensees must analyse what actions may be taken against employees.

Another modification focuses on the phrase “Security Police,” as with the new changes, it is given the same rights as the Police Authority to request information from operators. The changes made by Spelinspektionen took effect on January 1, 2020.

The regulator has recently issued a number of relevant points that identify a legal gambling operator in the country. The company must offer deposits, withdrawals and wins in Swedish currency, information in Swedish or the conditions for participation must be in the same language. Companies must also have a Swedish customer service or FAQ in the local language.

Zoltan Tundik

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

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