Compliance Updates – Page 24

dutch-gambling-regulator-imposes-e531,250-fine-on-tipico

Dutch Gambling Regulator Imposes €531,250 Fine on Tipico

September 28, 2021 Published by EuropeanGaming.eu

Reading Time: < 1 minute

Dutch gambling regulator Kansspelautoriteit (KSA) has imposed a fine of €531,250 on Malta-based Tipico Co. Ltd. for illegally offering online games of chance to Dutch consumers.

The online games of chance were offered via the tipico.com website. A starting fine of 200,000 euros applies for this violation. The fine was increased 3 times by 75,000 euros: once for the bonuses on offer and the large number of games and bets offered, once for the use of an inactivity fee and once for offering live betting.

This form of betting carries a higher addiction risk than bets that can only be made before the start of matches. Furthermore, the fine was increased because the age of the players was not visibly verified. Tipico’s website can no longer be reached with a Dutch IP address.

SJM Expects Casino Licence Renewal for Ten Years

September 25, 2021 Published by EuropeanGaming.eu

Reading Time: < 1 minute

SJM Holdings is expecting that the authorities will extend its gaming licence beyond the current expiration date of June 26, 2022. It expects the extension won’t be for twenty years but for around ten years.

During an investor meeting, the company said that the concession length would be longer than five years yet more limited than 20 years.

The current city’s gaming laws state that licences can be extended for up to five years from the original 20-year term. SJM Holdings and other operators have attended a public consultation session and asked for more information on the government’s proposed changes to the city’s gaming laws.

Casino operators also said the government should give more details on the proposal that gaming concessionaires should be part held by a Macau resident.

Buddy Lam Chi Seng, Galaxy Entertainment senior vice president of public relations, asked if the possibility of electing “delegates” to Macau’s gaming concessions to have a “greater checking” limit on the activity of the gaming firms could have a potential impact on gaming firms’ daily operations.

Ku Mei Leng, chief-of-office of Macau’s Secretary for Economy and Finance, answered that the public authority didn’t have any “predetermined positions” on the themes, as it was still collecting opinions from the industry regarding the proposed changes.

He noted that a delegate system is already used to monitor other forms of public concession. According to previous reports, government delegates would be sent to gaming concessionaires to enable the direct monitoring of daily operations.

Regulatory action against EU Lotto

September 25, 2021 Published by EuropeanGaming.eu

Reading Time: 2 minutes

A gambling business must pay a £760,000 fine and undergo extensive independent auditing after a Commission investigation revealed social responsibility and money laundering failures.

EU Lotto – which operates the lottoland.co.uk website – has also received a formal warning for the failures which occurred between October 2019 and November 2020.

Social responsibility requirement failures included neglecting to take into account the Commission’s formal customer interaction guidance.

Examples included:

customers frequently changing deposit limits not being considered as markers of harm
no evidence of suitable financial and affordability assessments being conducted to identify whether a customer was being harmed or at risk of harm
customer interactions predominately consisted of an email detailing the responsible gambling tools available and did not require a customer response – there was little evidence of interactions being adapted depending on the extent of potential harm.

Anti-money laundering failures included:

not effectively reviewing or analysing bank statements provided by customers to prove address
not restricting customer accounts following source of funds (SoF) requests
allowing customers to register third-party debit cards (such as those in a different name to the customer) to their account
relying too heavily on ineffective threshold triggers and generally lacking information regarding how much a customer should be allowed to spend based on income, wealth or any other risk factors.

Helen Venn, Commission Executive Director, said: “This case, like other recent enforcement action, was the result of planned compliance activity. All operators should be very aware that we will not hesitate to take firm action against those who fail to meet the high standards we expect for consumers in Britain.”

Read EU Lotto’s full penalty on the Commission’s regulatory sanctions register.

Nigel Birrell, CEO of Lottoland commented: “Lottoland is fully committed to ensuring the highest standards of compliance, including its anti-money laundering and social responsibility obligations in all of the jurisdictions in which it operates. The Gambling Commission fine was related to legacy issues around some of our compliance controls which have now been addressed. Lottoland has extensive compliance measures in place and we are confident that our current policies and processes meet all relevant standards.

Remedial action taken included significantly increased investment in our compliance function, more than doubling headcount, alongside a host of other initiatives including bringing in third party support, enhancing training and a review of key policies. In addition, we recently committed to building our individual processes into an automated system to improve the system even further. “

Belgian Regulator Adds 16 New Domains to iGaming Blacklist

September 23, 2021 Published by EuropeanGaming.eu

Reading Time: < 1 minute

Belgium’s gambling regulator has added a further 16 domains to its blacklist of unlicensed online gambling websites.

The blacklist, first introduced in 2012, now includes a total of 277 domains that have been found to have offered games of chance without a licence.

The 16 sites, added to the list on September 15, include Evobet.com, Winorama.com and Cloudbet.com. Some 28 domains were added in July, with four in June.

Players are liable to a criminal penalty of up to €25,000 if they play on these sites, with operators facing possible fines of up to €100,000.

“It is forbidden for anyone to operate a game of chance without a license previously granted by the Gaming Commission. It is also prohibited for anyone to participate in an illegal game of chance, facilitate its exploitation or advertise it,” the Gaming Commission said.

BF Games awarded ISO certification ahead of Switzerland entry

September 20, 2021 Published by EuropeanGaming.eu

Reading Time: < 1 minute

BF Games, the dynamic games development studio, has gained leading information security certification ISO 27001 ahead of entering a new market in Switzerland.

The accreditation showcases BF Games’ commitment to information security management as it seeks to expand its product offering across regulated markets in Europe.

ISO 27001 certifies in-house developed IT products and is a mandatory requirement for suppliers entering the regulated markets of Switzerland and Hungary, both of which form a strong part of the company’s expansion strategy in the coming months.

BF Games’ diverse games offering is currently available to players in a host of European markets including the UK, Belgium, Malta, Romania, Lithuania, Latvia and Sweden, with Croatia the latest addition to the ranks.

Piotr Szpoton, CEO at BF Games, said: “Gaining the ISO certification is an important step for us and provides an illustration of our total commitment to best business practices and the protection of customer data.

“We believe that this approach will set us in good stead as we continue to expand our horizons, with players in Switzerland soon able to enjoy our dynamic, innovative games portfolio.”

OKTO receives PCI DSS certification

September 18, 2021 Published by EuropeanGaming.eu

Reading Time: < 1 minute

Confirming once again OKTO’s commitment to deliver high-quality, reliable, secure, and compliant service offerings to its customers, OKTO obtained the Payment Card Industry Data Security Standard certification

OKTO has received the Payment Card Industry Data Security Standard (PCI DSS) certification proving once more its continuous investment in leading and reliable technologies, adhering to high industry technological standards to offer enhanced security on consumer financial data and increased trust in the payment ecosystem. The fintech firm’s OKTO.WALLET solution meets all the requirements set forth as a Level 1 Service Provider, ensuring the security and protection of payment cardholder data.

Compliance validation of the OKTO solution involved the evaluation and confirmation that the security controls and procedures have been properly implemented as per the policies recommended by PCI DSS. According to the requirements formed by the international payment systems, Visa, Mastercard, American Express and other members, all entities that store, process, and ensure the transfer of data to their cardholders must comply with the unified PCI Data Security Standard.

John Zacharakis, CTO at OKTO, comments: “PCI DSS certification is a key step of our high-quality offering to our customers and commitment to the industry’s highest standards in the most regulated markets. OKTO meets the objectives of the PCI DSS and assures that its clients obtain a fully PCI DSS compliant services, adhering to high security technical standards which ensure the security of the network infrastructure, and apply required controls around cardholder data to minimize credit card fraud.”

Northern Ireland Gambling Amendment Bill Reaches Assembly

September 17, 2021 Published by EuropeanGaming.eu

Reading Time: < 1 minute

New regulations for the gaming industry in Northern Ireland have been introduced this week in the country’s Assembly, significantly amending the current laws.

The Betting, Gaming, Lotteries and Amusements (Amendment) Bill creates new offences in permitting children to play gaming machines and provides powers to impose a statutory levy on gambling operators.

It establishes a mandatory code of practice for licence holders, broadens the definition of cheating to include attempted cheating, makes gambling contracts enforceable in law and permits bookmakers and bingo clubs to open on Sundays and on Good Friday.

The minimum age for minors to play a gambling machine is now 18 and it will become an offence to invite a person below that age to play. Previously, it was not an offence to permit an under-age person to gamble.

The statutory levy on gambling operators will be employed in a manner similar to the practice in England, where the money raised is used for community projects and treatment of problem gamblers.

An overhaul of online gambling legislation will form a second phase of the changes to Northern Ireland’s gambling scene and will follow after discussions.

1400 Arrests, $8M Seized in Illegal Gambling at Euro: Interpol

September 16, 2021 Published by EuropeanGaming.eu

Reading Time: < 1 minute

An Interpol operation targeting illegal gambling during Euro 2020 led to 1400 arrests and the seizure of $7.9 million (6.7 million euros) in cash, the Lyon-based global crime agency reported.

Thousands of raids in Asia and Europe also resulted in the confiscation of computers and mobile phones connected to almost $465 million in bets.

“While most of us were watching the UEFA European Football Championship as simple fans, hundreds of specialized officers across 28 countries were targeting organized crime groups looking to earn millions from illegal gambling and related money laundering activities,” an Interpol statement read.

Hong Kong police detained more than 800 suspects, “including the alleged kingpin of a triad-controlled bookmaking syndicate,” the statement said.

In what was described as one of Hong Kong’s most successful operations ever they seized $2.7 million in cash and records detailing hundreds of millions in bets.

In Italy, home of the European champions at the pandemic-delayed tournament, Operation SOGA VIII inspected 280 betting shops and delivered 1.3 million euros in sanctions for illegal betting schemes.

In all, Interpol’s eight SOGA operations have led to more than 19,000 arrests, cash seizures of more than $63 million and the closure of over 4000 illegal betting dens.

BC.GAME is now the proud owner of the much-awaited Curacao License!

September 14, 2021 Published by EuropeanGaming.eu

Reading Time: 2 minutes

Curacao Interactive Licensing N.V.(CIL) is one of the top four most popular globally acknowledged casino licenses! In addition, Curacao Interactive Licensing N.V.(CIL) is one of the four master operators who received oversight roles from the Curacao government. The other three are E-Gaming (N.V. 1668/JAZ), Antillephone (N.V. 8048/JAZ), and Gaming N.V. (365/JAZ).

Curacao has an excellent reputation for having a trustworthy, responsible, and stringent licensing protocol. Having a Curacao license means adhering to all rules and complying with all applicable regulations!

In easy terms, it means BC.GAME will have a better standing with other companies and partners in the crypto gaming industry! This further strengthens the company’s beliefs of providing complete security and an optimal & provably fair gaming experience to their users!

A Curacao license opens up more significant avenues for a crypto gaming platform! This further makes it possible for BC.GAME to provide their players with better games, bigger rewards, highly recognized providers, easier integration of new currencies, to name a few!

For you, our dear community, it means a better and more trustworthy platform with a great gaming experience and a wide variety of games to choose from!

Obtaining the Curacao License helps BC.GAME attain a recognized standing in the global market and significantly strengthens its position as one of the Best Crypto Casinos! You can find the original company license here.

As the first-ever casino to support Bitcoin Lightning Network; BC.GAME is determined to achieve a globally acclaimed compliance standing! But all in good time as this is just the beginning!

For security, the license was uploaded to the decentralized storage blockchain, the IPFS, and minted into an NFT compliant with the EC-721 standard before being transferred to BC.GAME’s ENS bcgame.eth account.

The online gambling platform’s decision to secure the CIL sub-license in the IPFS before minting it as an NFT shows the flexibility and possibilities of blockchain, which BC.GAME is amongst the first ones to achieve!

All users, including regulators worldwide, can now view the license, which is an efficiency win, considering how governments have stepped up, shifting their muzzles to crypto entities.
BC.GAME would like to extend their heartfelt gratitude to each of their amazing players who stood by them and pushed them to reach greater heights with each achievement!

The company further mentions, “Thank You for trusting us and providing your unwavering support to BC.GAME! We are because of you! Thank You! We aim to provide our players with the best crypto casino experience full of huge winnings, fun, and good times! But, as we always say, Don’t Trust, Verify It.

Once again, we thank you, dear players, for constantly pushing us to be the Best!”

And to all the new users, they say: “Welcome! Become a part of the most rapidly growing crypto gaming community and have an experience like no other!”
Congratulations to all, and we wish you a super lucky winning time!

JOIN NOW!

BF Games content certified in Croatia

September 13, 2021 Published by EuropeanGaming.eu

Reading Time: < 1 minute

BF Games, the dynamic games development studio, is poised for its Croatian market entry following the certification of its game portfolio in the country.

A selection of BF Games’ diverse games offering, featuring a mix of classic fruit slots and innovative new content, is now available to rollout with local operators for the first time.

The portfolio includes the supplier’s best performing titles, including Stunning Hot Remastered, Royal Crown Remastered and Book of Gods and recent hit Cave of Fortune. Given the fruity design and simple mathematical models of the 20 selected titles, BF Games expects the games to bring a high return of investment.

The certification marks another important milestone for BF Games, after recently expanding its reach across numerous European markets including Belgium, Romania, Lithuania, Latvia and Sweden.

Nine local operators are currently offering online gambling in Croatia, and BF Games has already a signed a deal with a market leader.

Piotr Szpoton, CEO at BF Games, said: “We continue to focus on growing the reach of our content and we are thrilled to have our portfolio certified in Croatia.

“We are certain that our games will resonate well with local players, and we are excited about the opportunities that lie ahead in Croatia, a market with great potential.”

Tag: Compliance Updates

Dutch Gambling Regulator Imposes €531,250 Fine on Tipico

SJM Expects Casino Licence Renewal for Ten Years

Regulatory action against EU Lotto

Belgian Regulator Adds 16 New Domains to iGaming Blacklist

BF Games awarded ISO certification ahead of Switzerland entry

OKTO receives PCI DSS certification

Northern Ireland Gambling Amendment Bill Reaches Assembly

1400 Arrests, $8M Seized in Illegal Gambling at Euro: Interpol

BC.GAME is now the proud owner of the much-awaited Curacao License!

BF Games content certified in Croatia

Latest Members

Who is online

Latest Hashtags