The Swedish Trade Association for Online Gambling (BOS) has told the Ministry of Finance it opposes a proposal that would link the maximum anti-money laundering fine for gambling operators to 10% of group turnover.
In a consultation response, the association argues that any sanction for activity in Sweden should be calculated on the licence holder’s own revenue from Swedish gambling.
BOS points out that the ministry’s own memorandum acknowledges the proposal goes further than Directive (EU) 2024/1640, which requires member states to set the maximum penalty for non-financial obliged entities at no less than twice the benefit derived from the breach, where it can be determined, or at least €1m ($1.11m).
The association says the draft does not define “group” and could capture revenue unconnected to the Swedish licence, including gambling licensed in other jurisdictions.
It adds that two operators committing the same infringement would face different exposure depending on group size, which it describes as discrimination against operators established in other member states.
BOS also objects to a turnover-based ceiling because gambling turnover largely consists of stakes returned to players as winnings, which it says averages 94% to 97% in Sweden.
Its example: a game with a 96% return to player that takes in SEK100m ($10.1m) in stakes generates SEK4m in gross gaming revenue, yet a 10% ceiling would allow a SEK10m fine, two and a half times the operator’s revenue from that activity.
The association wants the provision deleted or, failing that, turnover defined as gross gaming revenue from Swedish-licensed gambling and a safeguard against fines that would jeopardise continued operation.
Gustaf Hoffstedt, Secretary General of BOS, said: “BOS welcomes the proposed EU anti-money laundering package. It has the potential to become an important tool in the fight against money laundering. At the same time, a rethink is needed in some areas - particularly regarding administrative fines - to ensure proportionality, avoid double punishment, and promote legal certainty in general.”
BOS also opposes the proposed central register of gambling accounts in its current form, saying it goes beyond what Union law requires and that the impact assessment does not quantify costs for licence holders.
The EU adopted its new anti-money laundering package in May 2024, which requires member states to update their national frameworks
