The country is focusing on strict responsible gambling regulations with new rules
Sweden will enforce its new online gambling amendments beginning on April 1, 2024, bolstering consumer protections and raising fines for Anti-Money Laundering Act (AML) violations.
During the year-end proceedings, the government reduced all gambling amendments into one bill, which was then presented to the Riksdag (Parliament) for legislative approval. The bill conforms to expanding consumer protections, setting written requirements for telephone sales, and modifying punishments for money laundering offenses.
The Swedish government suggested new revisions to the Gambling Act of 2018 to enhance consumer protections and customer care responsibilities for legal online gambling providers. Beginning on April 1, online gambling sites will be mandated to evaluate and study information regarding a player’s health and economic status, considered essential to “protect consumers from excessive gambling.”
Sweden’s Ministry of Finance, Finansdepartementet, approved the changes, including increased fines for gambling providers that violate the Money Laundering Act.
The current penalties levied on companies that breach the Money Laundering Act are less stringent compared to Gambling Act violations. The amendment seeks to resolve high court arguments linked to how gambling regulator Spelinspektionen had previously set AML punishments.
The final version of the bill presents a new prerequisite for gambling-affiliated telephone sales to be introduced to consumers in writing. Agreements not created in this method will be deemed invalid.
Swedish gambling operators will get ready for another year of changes as the government resumes modifying protections under the Gambling Act of 2018 and Parliament discusses raising personal income taxes on gambling winnings from 18% to 22%.
Emma Rodriguez is the Proofreader at the Big Blind, with seven years of experience and five years in online gambling. She plays a crucial role in maintaining content quality by ensuring error-free, reader-friendly information about the gambling industry.
