BOS says Swedish regulator sets AML fines near maximum

The Swedish Trade Association for Online Gambling (BOS) says Spelinspektionen, the country’s gambling regulator, sets anti-money laundering (AML) sanctions much closer to the legal maximum than other Swedish supervisory authorities. BOS bases the claim on a review of the regulator’s decisions by law firm Nordic Legal.

Spelinspektionen issued nine AML decisions between 2022 and 2025. Seven of them carried fees of at least half the statutory maximum, and two reached about 91% and 100%. In major banking cases, the Financial Supervisory Authority (FI) imposed sanctions of roughly 20% to 27% of its ceiling. The Stockholm County Administrative Board (Lst Stockholm) usually stayed lower still, with occasional higher penalties for serious breaches.

Nordic Legal also found differences in how cases are built. FI and Lst Stockholm start by assessing a company’s risk assessment, procedures and controls, then test them against customer files. Spelinspektionen tends to work from the files themselves. Of 12 AML decisions examined since 2021, 11 were based mainly on samples of 5 to 15 customers, often without looking at the operator’s wider risk assessment or policies.

BOS secretary general Gustaf Hoffstedt said:

“In our view, the SGA is more heavy-handed and less focused on dialogue or collaborative problem-solving compared to other Swedish authorities.”

He added that the licensed market would benefit if the regulator moved closer to the working methods of other agencies.

Spelinspektionen declined to comment.