Branschföreningen för Onlinespel (BOS), Sweden's online gambling association, is urging a reassessment of how anti-money laundering (AML) fines are determined. This call to action comes as a government consultation on new EU AML regulations wraps up today, October 30.
The Swedish Ministry of Finance released a memorandum in July that outlines how the nation should adjust its legislation to comply with the EU's AML framework. The new EU Anti-Money Laundering Regulation will take effect in all member states on July 10, 2027. The ministry has opened the floor for input from BOS and other impacted organizations.
While BOS generally supports the proposed measures, it expressed concerns about a proposal that would tie fines to the total turnover of an operator's entire group across various jurisdictions. The association believes that sanctions related to operations in Sweden should solely reflect the company’s turnover within the country. They argue that assessing group-wide figures could lead to double jeopardy violations, conflicting with both Swedish and EU statutes.
In terms of fine calculations, BOS contends that penalties should be based on gross gaming revenue (GGR), which is calculated as the amount remaining after player winnings are disbursed. According to BOS, since winnings are considered client funds, they should not factor into the operator's revenue when determining fines.
For example, the standard return for every SEK100 wagered is approximately SEK95 to players, leaving SEK5 as the operator's take. BOS argues that this SEK5 should form the basis of any financial penalties, likening it to how fines are levied against banks, which are assessed based on their own turnover rather than the total funds in customer accounts.
"BOS welcomes the proposed EU anti-money laundering package. It has the potential to become an important tool in the fight against money laundering," stated Gustaf Hoffstedt, the secretary general of BOS. "However, there needs to be reconsideration in certain areas—particularly concerning administrative fines—to ensure they are proportional, avoid double punishment, and promote overall legal certainty."
This is not a new argument for BOS. In fact, the association has previously asserted that GGR should be the basis for fines, a position that has found support in Swedish courts. In 2023, the Supreme Administrative Court ruled that fines under the Gambling Act should derive from GGR instead of total turnover, a decision influenced by a case involving Genesis Global, which faced a SEK4 million fine for not properly linking to Spelpaus, Sweden's self-exclusion register. Up to that point, the regulator, Spelinspektionen, calculated penalties based on total stakes wagered.
Not long after, Sweden contemplated increasing penalties for violations of its Money Laundering Act to align them with those under the Gambling Act. While BOS supported the proposal, it emphasized that any AML fines should also reflect GGR, asserting it is unreasonable to draw penalties from funds that belong to players.
This discussion remains pertinent, especially in light of recent decisions. In July, the Administrative Court in Linköping affirmed penalties imposed by Spelinspektionen, including SEK6.5 million against Betsson Nordic, SEK5.5 million against Snabbare, and SEK10 million against Spooniker for AML breaches.
The EU's AML reforms initially proposed in 2021 include the establishment of a new EU Anti-Money Laundering Authority and were officially adopted in 2024. In 2022, the European Gaming and Betting Association announced plans to revise its AML guidelines to align with these new rules.
