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Categories: Gambling News

Norwegian Gambling regulator wants a blockade of payments in online casinos

According to the Norwegian Gaming and the Foundation Authority (NGA), more than 256 million dollars flowed through the seven gambling companies in 2019. However, things are going to change. The Norwegian Gaming and the Foundation Authority (Lotteri- og Stiftelsestilsynet) has required banks to block payments in online casinos from now on. The measure has been in force since 24 April.

‘Irregularities’ during an inspection

The NGA’s decision follows after the government discovered ‘irregularities’ during an inspection, so can be read in an article of the The Jerusalem Post. Norway has a long history of strict rules in the gambling industry. Most gambling activities are reserved for the state-owned Norsk tipping company.

Shocking news about money

The NGA has been shocked by the amount of money, estimated at over two hundred million, flowing through seven gambling companies. The scale and pace of the money transfers prompted the NFA to ask the banks to comply with their measures.

Market open for international casinos?

The Norwegian Government briefly considered the possibility of opening the market to international casinos, but this did not happen in the end. Past December, the Norwegian Government assumed that most private casino operators would not comply with the Government’s guidelines on social responsibility.

Reaction of accused companies: just go ahead

The accused companies have stated that they continue to offer online gambling in Norway, claiming that the tactics used to ‘catch them’ were illegal. The gambling companies are in unanimous agreement. They work together to ensure that they can continue to offer gambling services to the Norwegians.

Decision ratified by court

The legal battle with the government led the court to ratify the decision. The Oslo District Court ruled in favour of the Ministry of Culture. The Ministry claims that it has the power to forbid gambling companies to help gamblers gain access to international illegal gambling sites (so without a license). Despite the fact that a license is required, some casinos remained under the radar for a long time because they accepted cryptocurrencies.

Chloe

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