Swedish regulator set for three-year funding boost to tackle illegal gambling
Illegal gambling and match-fixing create sources of income for criminal networks. Gambling operators are therefore considered to be at high risk of money laundering by the Swedish government.
Wykman, who previously sanctioned a cash injection of SEK2.4m to the Swedish Gambling Authority (SGA) for the remainder of 2023, has now established a three-year funding timeline.
The regulator will experience an increase of SEK10.8m in 2024, escalating to an annual budget of SEK15.6m for 2025 and SEK18.6m for 2026.
One aim of the funding surge is for the SGA to align with the requirements of the Macolin Convention, a multilateral treaty that aims to prevent, detect, and punish match fixing in sport. It is the only international law rule regarding the manipulation of sports competitions.
This proposal is aimed at strengthening the FSA’s collaboration and supervisory role with the SGA, while enhancing its power to block payments both to and from unlicensed gambling providers.
“There must be strong consumer protection in the gambling market,” said Wykman. “With this investment, Spelinspektionen can sharpen supervision.
“In addition, the cooperation with the Financial Supervisory Authority can open up new opportunities to block payment mediation to and from illegal actors, something that can play an important role in the work to combat criminal activity,” he added.
SGA director general Camilla Rosenberg welcomed the “positive” proposal, suggesting closer collaboration with the FSA would allow for “sharper” supervision of gambling in Sweden.
Swedish-licensed operators combined to generate turnover of SEK6.70bn (€563m) in Q2 2023, representing a 1% decrease year-on-year.