Swedish trade organization Branschföreningen för Onlinespel (BOS) has called for a reassessment of how fines for anti-money laundering (AML) violations are determined, coinciding with the conclusion of a government consultation on new EU AML regulations on October 30.
The Ministry of Finance released a memorandum in July, outlining how Sweden should adjust its regulations to comply with the EU’s AML package, which will apply across all member states starting July 10, 2027. The ministry sought feedback from BOS and other relevant stakeholders.
While BOS generally supports the proposed measures, it opposed the idea of calculating fines based on the total revenue of an operator's entire corporate group. The organization argued that only the turnover generated in Sweden should be considered when imposing sanctions related to Swedish operations, cautioning that using group-wide figures could result in "double punishment," which conflicts with both Swedish and EU law.
BOS further contended that fines should be based on gross gaming revenue (GGR)—the funds remaining after payouts to players—asserting that winnings belong to players, not the operators. The association highlighted that, on average, approximately SEK95 of every SEK100 wagered is returned to players, while operators retain about SEK5. BOS believes that this SEK5 figure should serve as the basis for any potential penalties, drawing a parallel to how banks are fined based on their own revenue rather than the total funds managed for customers.
Gustaf Hoffstedt, secretary general of BOS, expressed support for the EU's proposed AML package, noting its potential as a significant ally in combating money laundering. However, he stressed the need for a reconsideration of certain aspects, especially administrative fines, to ensure that they are proportionate, avoid double penalties, and enhance legal certainty.
This isn’t the first time BOS has advocated for calculating fines based on GGR. The Swedish Supreme Administrative Court had already ruled in 2023 that penalties under the Gambling Act should reflect GGR instead of total revenue. This decision stemmed from a case involving Genesis Global, which faced a SEK4 million fine for not adequately connecting to the national self-exclusion database, Spelpaus. Until that ruling, administrative fines had been determined based on total stakes.
In July, Sweden looked into increasing penalties for violations of its Money Laundering Act to align with those of the Gambling Act. BOS supported this initiative but reiterated that AML fines should also be based on GGR to avoid penalizing operators with funds that rightfully belong to players.
The topic remains active, as the Administrative Court in Linköping recently upheld AML fines, including SEK6.5 million against Betsson Nordic, SEK5.5 million against Snabbare, and SEK10 million against Spooniker.
The European Commission first proposed this reform package in 2021, introducing the need for a new EU Anti-Money Laundering Authority; the package was officially adopted in 2024. Last year, the European Gaming and Betting Association announced its plans to revise its AML guidelines to align with the new regulations.
