{"id":13568,"date":"2023-09-13T10:31:24","date_gmt":"2023-09-13T10:31:24","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=13568"},"modified":"2023-09-13T10:31:24","modified_gmt":"2023-09-13T10:31:24","slug":"sweden-decides-to-treat-all-gambling-related-aml-violations-equally","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/sweden-decides-to-treat-all-gambling-related-aml-violations-equally\/","title":{"rendered":"Sweden Decides To Treat All Gambling Related AML Violations Equally"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/sweden.jpg\" alt=\"Sweden\" title=\"Sweden Decides To Treat All Gambling Related AML Violations Equally\" width=\"300\" class=\"alignright size-full wp-image-3473\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>AML penalties imposed on gambling operators will now be based on their GGR<\/li>\n<li>The new rules will take effect on April 1, 2024 <\/li>\n<li>The new changes will settle disputes related to the alleged unfair calculation of AML fines<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.legitgambling.com\/news\/kindred-group-hit-with-e998k-penalty-over-swedish-aml-violations\/\">Anti-money laundering (AML) fines imposed on high-risk industries in Sweden<\/a> will be treated equally under new changes to the country\u2019s Money Laundering Act. <\/p>\n<p>The amendments, introduced by the Swedish Ministry of Finance, <strong>Finansdepartementet<\/strong>, will settle an ongoing dispute regarding AML penalties charged against gambling operators by the country\u2019s gambling authority, <strong>Spelinspektionen<\/strong>.<\/p>\n<h2>AML Fines Will be Based on GGR<\/h2>\n<p>The new memorandum recently released by the Swedish Finance Ministry has made it clear that fines imposed on gambling providers over breaches of AML laws must be based on gross-gaming revenue (GGR) rather than turnover. The new rules regarding AML penalties announced by Finansdepartementet will take effect from April 1, 2024.<\/p>\n<p>While Finansdepartementet\u2019s intervention will inevitably increase the amount of AML penalties for operators, Swedish gambling trade association <strong><a href=\"https:\/\/www.legitgambling.com\/news\/swedish-industry-body-raises-concerns-as-online-gambling-channelization-hits-77\/\">Branschf\u00f6reningen f\u00f6r Onlinespel<\/a><\/strong> (BOS) considers it a welcome move towards ensuring fairness when imposing fines against licensed gambling firms in the country.  <\/p>\n<p>BOS has long argued that penalties for AML violations within the gambling industry should be calculated according to the operator\u2019s GGR, which refers to the total amount of money generated by a gambling business when customer winnings are deducted. This has been the subject of disputes between the gambling regulator and some operators as the former traditionally imposed AML fines based on turnover. <\/p>\n<p>Under <a href=\"https:\/\/www.spelinspektionen.se\/globalassets\/dokument\/engelsk\/oversatt-spellagen\/gambling-act-2018_1138-uppdate-sfs-2023_309.pdf\">Sweden\u2019s Gambling Act<\/a>, authorities may impose AML fines of up to twice the profit made from the violations. However, since the updated law came into effect in 2019, AML breaches have been treated differently from standard violations of the main gaming law. <\/p>\n<h2>New Rules Put an End to AML Fines Dispute<\/h2>\n<p>Operators previously fined by Spelinspektionen had accused the regulator of unfairly imposing AML penalties by calculating them based on turnover instead of GGR. <strong>Genesis Global<\/strong> launched a legal challenge against Spelinspektionen on this matter in 2019, with a similar case also lodged by <strong>AB TRAV<\/strong> in 2022.<\/p>\n<p>In a ruling released in May 2023 on the Genesis dispute, Sweden\u2019s Supreme Administrative Court ordered Spelinspektionen to revise the fine it imposed on Genesis citing \u201c<em>ambiguities<\/em>\u201d on how the penalty was calculated and applied. As a result, the SEK 4 million (\u20ac360,000) previously charged against Genesis was reduced to SEK 2 million (\u20ac180,000). <\/p>\n<p>The decision was welcomed by BOS, with <strong>Director General Gustaf Hoffstedt<\/strong> saying AML fines received by operators had been \u201c<em>grotesquely high<\/em>\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: AML penalties imposed on gambling operators will now be based on their GGR The new rules will take effect on April 1, 2024 The new changes will settle disputes related to the alleged unfair calculation of AML fines Anti-money laundering (AML) fines imposed on high-risk industries in Sweden will be treated equally under new [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,2,3,8],"tags":[],"class_list":["post-13568","post","type-post","status-publish","format-standard","hentry","category-casino","category-legislation","category-poker","category-sports"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sweden Decides To Treat All Gambling Related AML Violations Equally<\/title>\n<meta name=\"description\" content=\"Anti-money laundering fines imposed on high-risk industries in Sweden will be treated equally under new changes to the country\u2019s Money Laundering Act.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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