The gambling regulatory body of Sweden, Spelinspektionen, has rolled out a number of measures aimed at making sure that gambling companies in the country are in line with the latest industry regulations. The gambling watchdog has developed a new strategy for opposing illegal gambling activities in the sector but the truth is that there is no simple solution for dealing with the problem.
As written by the gambling regulatory body, Spelinspektionen believes that the best way to deal with the illegal gambling operations in Sweden is to try to impose a form of self-regulation on the market. The country’s gambling authority revealed that it plans to prioritize certain measures as part of its efforts against illegal gambling operations. This is exactly why it has released a new strategy document describing the way the regulator works to fight illegal gambling activities online.
The gambling regulatory body has recognized the responsibility of licensed gambling operators, payment service providers and subcontractors to make everything possible not to tolerate illegal gambling companies that offer their services. The authority highlighted the fact that the unlicensed gambling activity had seriously affected both local players and the country, with Swedish regulators losing tax revenue that could have otherwise be used for funding various good causes.
Swedish Gambling Regulatory Body Admits the Sector’s Regulation Is Complicated
Spelinspektionen also revealed that it has developed certain criteria that would be used for making an assessment of potential breaches of its gambling regulatory rules. Under the new rules, the gambling authority would be able to check whether gambling operators that offer their services on the territory of Sweden have been providing their customers with tailor-made offerings, terms and conditions in Swedish and offer money deposit and withdrawal operations in the local currency.
Moreover, the regulator would also check the contact information of each gambling website to make sure that each of them features a Swedish county code. The watchdog has also revealed that many gambling companies that are illegally offering their services to local users are often based outside the country, and even outside the European Union (EU). This makes regulation more complex.
The regulatory body will join forces with the Financial Supervisory Authority, the Swedish Consumer Authority, and of course, with the Swedish police in order to make sure that the gambling sector of the country remains properly regulated. Spelinspektionen further revealed its intentions to sign a special memorandum of understanding with other jurisdictions’ regulatory bodies. So far, the watchdog has signed such agreements with the Gambling Division of Gibraltar’s Ministry of Commerce and the Malta Gaming Authority (MGA).
As mentioned above, Spelinspektionen has been willing to help licensed operators and suppliers to also fight against unlicensed operators on the market. It reminded them to flag any unlicensed activity, including payment processing services and illegal gambling content.
