SGA welcomes Swedish government inquiry to tackle excessive credit
Legislators to consider introducing national debt register
The Swedish Gambling Authority (SGA) has embraced the government’s decision to open an inquiry to tackle excessive debt as it will help to build a healthy and safe gaming market with strong consumer protection.
The Swedish government has commissioned a special investigation to examine the market for consumer credit to yield measures designed to reduce risky lending.
The inquiry will assess proposed measures that give creditors a clearer picture of a consumer’s total debt burden, as well as their ability to repay, while the formation of a national debt register will also be investigated.
The SGA stated: “We welcome the government’s decision to now appoint an inquiry to look more closely at these issues.
“We see that an improved credit assessment in Sweden can have great significance for those consumers who risk ending up in over-indebtedness and addiction due to gambling.”
Sweden’s Minister of Civil Affairs, Lena Micko, said: “The government takes the issue of over-indebtedness very seriously and in recent years has taken a number of initiatives to counteract over-indebtedness, but developments show that more needs to be done.
“Therefore, the government is now deciding on an investigation that will take a broad approach to the question of how the protection for consumers can increase in connection with lending.”
In September, Spelinspektionen released guidance to licensees specifying what payment providers and solutions constitute gambling with credit.
Gambling with credit cards is already banned in Sweden, while the UK adopted the same ban last year.
Last week the UK Gambling Commission (UKGC) released an analysis of the ban, which highlighted its success and claims to have prevented harmful unintended consequences.