funding word

The Swedish Ministry of Finance, in conjunction with the Ministry of Health and Social Affairs, has proposed a funding increase for both the Spelinspektionen and Finansinspektionen.

Under the proposal, the Spelinspektionen, also known as the Swedish Gambling Authority, would receive additional funding of SEK 10.8m ($970,000) in 2024, SEK 15.6m in 2025, and SEK 18.6m in 2026.

This boost in resources would enable the Spelinspektionen to meet the requirements necessary for joining the Macolin Convention. The Macolin Convention, established on 1 September 2019, is a European multilateral treaty designed to prevent, detect, and punish match-fixing in sports competitions. Currently, 30 European countries, including Norway, Portugal, Ukraine, and Moldova, have signed the Convention.

Niklas Wykman, Minister for Financial Markets, emphasized the importance of consumer protection in the gambling market. He stated, “This investment will allow the Spelinspektionen to enhance its supervision. Additionally, collaboration with the Swedish Financial Supervisory Authority could provide opportunities to block illegal payment transfers, a crucial aspect in combating criminal activities.”

Similarly, the Finansinspektionen, also known as the Swedish Financial Supervisory Authority, would receive SEK 4.5m to support closer cooperation with the Spelinspektionen.

Camilla Rosenberg, Director-General of the Spelinspektionen, expressed her approval of the proposed funding increase, stating, “Our priority is to combat illegal gambling and match-fixing, ensuring a safe and secure gambling market for consumers. Strengthening cooperation with the Swedish Financial Supervisory Authority will enable us to enhance our supervision. I view the proposed resources as a positive development.”

Notably, the Swedish Trade Association for Online Gambling (BOS) recently commented on the proposed amendments to the Money Laundering Act by the Swedish Ministry of Finance.

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