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Swedish Gambling Authority Issues Guidelines on Anti-Money Laundering Measures
The Swedish Gambling Authority has released new guidelines aimed at preventing money laundering and terrorist financing in the country’s gaming industry. The authority emphasizes that license holders must take immediate action to address any indication of suspicious activity.
Risk Classification
According to the guidelines, customers who set higher deposit limits than €2,000 or gamble more than €2,000 during a rolling 12-month period can be considered normal risk, provided there is no indication that they should be classified as high-risk. On the other hand, customers who make deposits totaling less than €2,000 over a rolling 12-month period can be considered low-risk.
Monitoring and Reporting
- License holders must remain vigilant and monitor customer activity closely to prevent money laundering.
- In cases where there are indications of suspicious activity, license holders must request information on the origin of funds.
- The authority emphasizes the importance of ongoing monitoring of business relationships with customers.
- License holders must continuously review transactions and activities to detect any deviations from expectations and ensure that they are consistent with customer due diligence, business, and risk profiles.
Reporting Suspicious Transactions
- License holders must report suspicious transactions promptly to the Financial Police.
- Under the Money Laundering Act, it is prohibited to disclose that a report has been made to the Financial Police.
Internal Control and Whistleblowing Systems
- License holders must appoint specially designated officers, central function managers, and establish independent audit functions to ensure compliance with anti-money laundering regulations.
- License holders are required to have in place whistleblower systems that allow employees and contractors to report internally if they suspect a breach of anti-money laundering rules. The system must be dedicated, independent, and anonymous.
Conclusion
The Swedish Gambling Authority urges all license holders to familiarize themselves with the guidelines and take immediate action to prevent money laundering and terrorist financing in the gaming industry.
Resources
For more information on reporting suspicious transactions to the Financial Police:
Contact Information
The Swedish Gambling Authority Box 199, SE-645 23 Strängnäs Phone: +46 (0)152 650 100 E-mail: registrator@spelinspektionen.se Website: spelinspektionen.se
Guidance on Anti-Money Laundering nr:1 2021
Note: The guidance is available in Swedish only.