BOS favors stricter Swedish credit regulations

BOS, which is a trading body for online gambling in Sweden, is totally in agreement with the Ministry of Justice’s suggestion to strengthen and streamline user safeguard policies. This is in terms of dubious lending activities and over-indebtedness.

BOS is responsible for roughly 20 gambling businesses that have obtained certification from Spelinspektionen and is known to be the biggest trading body in Sweden.

As per the suggestions laid out regarding the regulations, the idea is to set up a stricter practice for user safeguarding, the priority being the gambling space. This comes with banning third-party advertising credits for gambling and delivering a debt register in Sweden.

According to the gambling news, The Secretary General of BOS, Gustaf Hoffstedt, agrees with the suggestions forwarded regarding the gambling arena. One suggestion mentions the fact that credit banning is required to be furthered in the Gambling Act. Added to that, the investigation is mulling over the fact that credit card gambling should be totally stopped. On this matter, however, BOS believes that the suggestion is not practical.

The delivery of a debt and credit register called the Skri register is yet another suggestion, the idea being to enhance the lender’s understanding of the borrower’s financial status. Hoffstedt is of the view that BOS is backing the concept that regulated gambling businesses are required to have the option of accessing information in the Skri register.  

BOS went on to add that there was a requirement for a proper ethical review, following which the furthering of the availability of the Skri register could take place. This will take care of safety aspects as well as issues related to privacy.

Earlier on, with regards to the alterations to be carried out on the Money Laundering Act, BOS backed the anti-money laundering breach like the gambling breach. Over and above that, BOS mentioned the fact that the channelization rate in online gambling in Sweden has reached 77%, a little less than the target of 90% set by the government. 

In the association’s opinion, the suggested increase in the gambling tax, from 18% to 22%, will negatively influence channelization as in the pre-2019 period.

John Scott

John Scott joined the Times of Casino’s team as a news writer. He previously worked with foremost publications as an intern. He holds bachelor of journalism degree and more than three years of experience of writing. In his free time, he enjoys travelling different places.

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