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Spelinspektionen to increase AML fines and impose new fees
A couple of new proposals introduced in Sweden will be increasing the amount of fines and fees the Spelinspektionen will be able to collect.
At the end of last week, the gambling regulator published an announcement, introducing new licensing fees for gambling software providers who wish to provide their offerings to Swedish operators. The new fees will be fixed for each license application, although if they do not cover the entirety of the Spelinspektionen’s review costs, an additional fee will be required.
Under the new laws, which will go into effect in a couple of weeks on the 1st of July, applicants will also have to cover any of the regulator’s other relevant costs.
A bit after publishing the new licensing fees for developers, the Spelinspektionen announced a new proposal that would allow it to impose more substantial fines on gambling firms that fail to comply with the country’s AML and CTF regulations.
The regulator stated that the main reason for the introduction of the new proposal was that the fines imposed on operators breaking AML laws are much lower than fines from gambling law violations, despite AML failures posing a higher degree of significance in many cases.
Spelinspektionen’s new proposal for higher AML penalties will go into effect next year at the beginning of April.
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