A Swedish gambling trade association has put forward a series of anti-money laundering (AML) recommendations to the gambling regulator on behalf of its members.
The suggestions, based on interviews with members of the Swedish Trade Association for Online Gambling (BOS), are contained in its report, produced in collaboration with consulting agency Advisense.
Respondents to the report “consistently called” for more detailed guidance from Spelinspektionen, the Swedish gambling regulator, on various AML processes, BOS said.
However, the respondents said there is a “reluctance to ask questions during inspections, as doing so often results in those areas being scrutinised.”
“This fear inhibits constructive dialogue during inspections,” BOS concluded in its report.
The report reveals that Swedish operators want from the regulator enhanced guidance on AML prevention, guidance on the inspection process and the creation of joint technical workshops with other regulatory authorities to share expertise and best practices.
Conferences or seminars targeting money laundering reporting officers or their equivalents in Sweden would also help operators, the report says.
To help operators with their AML obligations, BOS has also published an AML checklist for companies to follow.
It aims to “reach the highest possible standard in the work against money laundering, in regard to authorities and society in general,” the trade association said.
BOS’ report alongside Advisense also gave recommendations to the Financial Intelligence Unit and financial institutes.
