Sweden Raises gambling excise tax
The higher excise tax on gambling in Sweden is going into force as of today, Monday, July 1.The new tax, which increases the rate from 18% to 22% for all verticals, was...
Swedish government enhances AML efforts
The Financial Supervisory Authority of Sweden has been instructed by the government to step up efforts to prevent money laundering.
The government wants to better combat the problem of terrorism financing while increasing its anti-money laundering (AML) expertise. Increasing site traffic is one method for accomplishing this.
Niklas Wykman, Minister of Financial Markets, emphasized the need for accurate and efficient monitoring in the battle against money laundering, saying that it is essential for breaking into the illegal economy. He made the observation that a supervision approach to monitoring across a wide range of circumstances may result in inefficiencies. Consequently, the task on how to enhance the oversight of money laundering has been assigned to the Financial Supervisory Authority.
In order to improve the effectiveness of the supervision, Wykman also stated that the government will take action to strengthen its own governance. As directed by the government, the Authority must provide a status report by the end of the current year.
In addition to these actions, the government has recently given counterterrorism finance and anti-money laundering top priority. It was only last week that it was suggested that market participants in the gaming sector should be required to provide information about their transactions, clients, and other pertinent details to the Swedish gambling regulator, Spelinspektionen, in order to help in the monitoring and prevention of unlawful activity.
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Mr. Green’s fine reduced by Swedish Court
The fine imposed on Malta-based iGaming operator Mr. Green by the Swedish gambling regulator Spelinspektionen has been decreased.The Supreme Administrative Court of the...
