Swedish Gambling Authority to launch new AML monitoring system
GoAML will go live in January 2020 following successful tender process
The Swedish Gambling Authority (SGA) has announced the launch of a new anti-money laundering system with effect from 13 January 2020.
The new system, known as goAML, will be initially opened to licensed operators to register on 9 December, while the existing reporting system for anti-money laundering breaches, known as DAR, will be closed on 3 January.
All Swedish licensed operators are required to register with the new system in order to remain compliant with Swedish regulations.
The SGA has said goAML will include a “clear and predetermined structure” for reporting suspicious transactions, confirming what is required from both persons or operators.
Under Swedish gambling regulations, first introduced in September 2018, operators are required to verify a player’s age and that the bank account used matches that of the person logging into their site.
Introduction of the new goAML system follows a successful tender process launched earlier this year by the SGA.
In June, the SGA agreed to join a 16-strong group of Swedish regulators and police authorities targeting money laundering and terrorist financing in Sweden.
This agreement aims to identify, map and analyse methods of money laundering and will see all 16 organisations share information.
Participants include the Swedish customs agency, tax agency, financial services authority, the Swedish police, several local authorities and the Swedish prosecutions office.