Spelinspektionen determined to fight money laundering together with other agencies

17 Jun 2019

Spelinspektionen teams up with other organisations against money launderingSpelinspektionen, the Swedish gambling regulator, is determined to fight terrorism financing and money laundering in every possible way. In order to accomplish this, it announced that it is going to work cooperatively with other Swedish agencies on a new plan aiming to guarantee that the country's gambling licensees operate lawfully.

As a matter of fact, Spelinspektionen declared that it will join forces with as many as fifteen organizations so as to execute the plan, which will be applied throughout Sweden’s gambling industry. The aforementioned plan will contain the exchange of data between the different organizations involved and will lead to the formation of an archive full of important information that can be used in order to monitor illegal activities.

Spelinspektionen added that, since a gambling company might be used as a criminal tool, it is its responsibility to discover who are the people behind a company applying for or holding a license. Therefore it will conduct in-depth research into the background of the applicants who are seeking a gambling license. That research is aiming to reveal the true identity of the person who is trying to obtain the license and not simply disclose the operator’s name.

Furthermore, the companies that will be deemed suitable to receive a license should go through the “Know Your Customer” procedures, which are aiming to prevent illicit money exchanges among players.

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