Swedish regulator shares third quarter details

The gambling regulator from Sweden has released details of the financial figures from the third quarter of the year.

Sweden.- Spelinspektionen, the gambling regulator from Sweden, has unveiled that there has been a decline for online gaming and betting in the third quarter of the year. While the full results haven’t been released, the regulator unveiled a few details.

Spelinspektionen detailed that sales for licensees who have a Swedish licence for commercial gaming, both online and land-based, decreased in the third quarter when compared to the second quarter of the current year. 

The regulator said that the decrease was €11 million, which is approximately 3.5% when compared to the previous quarter in 2019. Spelinspektionen revealed that the full figures for the entire third quarter will be published in the coming weeks.

Sweden sets new AML reporting system

On January 13, 2020, the local market will debut the goAML reporting system. This new method will be used to report suspected money laundering and terrorist financing activity. The regulator said that the new system, which is provided by the United Nations, will increase the quality of reported material for the Financial authorities.

Moreover, it was revealed that the goAML platform will open its registration option on December 9. Licensees will be able to sign up ahead of the January 13 kick-off date, although registration is subject to approval from the police.

The old reporting portal will be closed on March 1 and licensees will only be able to report through goAML.