Home > Finance > Swedish government urges greater regulatory collaboration
Sweden’s government has called on national regulator Spelinspektionen and the country’s Financial Supervisory Authority (Finansinspektionen) to work closer together to combat illegal gambling.
The Swedish government said collaboration between the two bodies could help strengthen efforts to ensure greater control over monetary transactions related to gambling.
In making the call, the government referenced new regulatory powers that were issued to Spelinspektionen earlier this year, while additional powers will also be introduced over the next six months.
Among the new laws introduced in Sweden to combat illegal gambling was that payment providers in the country must provide information about the payments they process to authorities in order to help facilitate payment blocking for unlicensed operators.
Authorities may block payments to operators that are found to be targeting the Swedish market without a licence, while Spelinspektionen may conduct “test purchases” of gambling products to ensure operators are following Swedish laws and not targeting Sweden without a licence.
“The strengthened cooperation with the Financial Supervisory Authority will provide good conditions for all tools to be used efficiently, which we see as positive,” Spelinspektionen director general Camilla Rosenberg said.
Last month, the government also confirmed a funding boost for Spelinspektionen as part of a pledge to give the regulator more powers to clamp down on unlicensed operators.
The additional SEK2.4m was secured as part of the spring 2023 amendment budget, which is expected to be passed in June.
Spelinspektionen remains in a period of reform following the passage of the Enhanced Gambling Regulations Bill in November.
Source: Read Full Article