Spelinspektionen Along with National Governing Bodies and Organisations Join Together to Tackle Terrorist Funding and Money Laundering in the Sweden
Spelinspektionen, the Swedish gambling regulator is joining forces with several other national governing regulatory bodies to put a stop to money laundering. The new initiative created by different organizations will act as a forum for all supporting parties to exchange information and knowledge with one another for their effort to tackle terrorist funding and money laundering activities in the country.
All regulatory bodies who are supporting the new efforts will put a national risk assessment together that will identify, analyze and map out the risks and methods spotting illegal transactions in the market. The Swedish regulator will put its focus on offering its guidance and advice to other organizations on how to tackle the issues with one performing in-depth checks on all license applications and requiring operators to prove their anti-money laundering controls that are in place to prevent the laundering on money.
“We are currently procuring a solution for verifying information on licence applicants’ and licensees’ group structures, company information and ownership. Currently, by constructing complex and cross-border structures with legal entities in different jurisdictions, one can hide the people involved and the origin of funds,” commented, Spelinspektionen Anti-money Laundering Compliance Officer Fredrik Lindquist.