BOS / The Swedish Trade Association for Online Gambling commissions Advisense to strengthen efforts against money laundering
A unique survey on the state of play in measures against money laundering and terrorist financing in the gambling industry
The Swedish Trade Association for Online Gambling, BOS, has commissioned the consulting firm Advisense to conduct a unique survey among its member companies this fall to strengthen their work against money laundering and terrorist financing.
The online gambling market in Europe is estimated to 100 billion Euros and is rapidly growing due to increased internet usage, smartphones, and new platforms for gaming and betting. With this growth new risks emerge. Challenges are reflected in recent sanctions by supervisory authorities focusing on the need for risk assessment, enhanced customer due diligence, adequate controls and monitoring.
The gambling market should be a place for joy, entertainment, and excitement – and the occasional big win. Criminal activities must be eradicated. Our tolerance for money laundering in the gaming industry is zero. Together with Advisense, we are now setting a spotlight on ourselves to identify how we can improve our work against money laundering.
Gustaf Hoffstedt, Secretary General of BOS – The Swedish Trade Association for Online Gambling
The AML State of Play survey will be an important step to strengthen the ongoing efforts. Online gambling is a high-risk industry for money laundering and terrorist financing both internationally and in Sweden. Extensive measures have already been taken since the Swedish gambling industry was regulated in 2019. The ability to share collective expertise and exchange experiences from both the gaming and financial industries will be of great significance going forward.
Kristian Bentzer, Group CEO at Advisense
The results of the survey will be communicated by BOS later this autumn.
For more information, visit advisense.com and bos.nu.
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About Advisense
Advisense is a leading governance, risk and compliance powerhouse, offering best-in-class services and tech solutions to the European industry. Since 2008, we have combined regulatory, security, technological and risk management expertise to advise and challenge the industry with leading edge insights and experience. We navigate a changing and complex environment, supporting our clients in every step from analysis and advice to implementation and operations. Advisense has more than 450 employees based in Bergen, Brussels, Copenhagen, Gothenburg, Frankfurt, Helsinki, Malmö, Oslo, Stockholm, Riga and Vilnius.
About BOS
The Swedish Trade Association for Online Gambling – BOS – represents gaming companies and developers of online games targeting Swedish consumers. The association was founded in 2012 to represent the industry in Sweden and abroad.