Tag Archives: eu

Alberto Garzón, Spain’s Minister of Consumer Affairs, has ordered his department to draft the first federal controls on loot box interactions. This mandate follows a year-long investigation by the Ministry of Consumer Affairs into loot box purchases/interactions in video games, specifically assessing their potential risk to underage consumers.  The investigation revealed that in Spain, “35% of video games and 55% …

The European Union (EU) has warned regulators and trade bodies that businesses and individuals are required to carry out ‘enhanced due diligence measures’ when conducting financial transactions with “high-risk nations”.  The warning follows the European Commission (EC) updating protocols of the “Regulation on High-risk Third Countries” in December 2022. The mandate identifies high-risk third countries which are deemed to have …

The Financial Action Task Force (FATF) has updated its recommendations on how EU member states should conduct risk assessments against anti-money laundering (AML) and countering financing of terrorism (CFT) threats.  New industry-specific recommendations have been provided via the European Commission’s (EC) ‘Supranational Risk Assessment (SNRA) Report’, which was last updated in 2019. Under the EU ‘Anti-money Laundering Directive’ (AMLD) the …

The Government of Gibraltar has sanctioned a consultation to review the licence fees of remote gambling businesses and services offered.  The consultation will be attached to the government’s proposed Bill, which aims to update the Gibraltar Gambling Act and deals “specifically with proposed application fees and annual licensing fees imposed on remote gambling services”. Headline directives see the Bill propose …

The European Gaming and Betting Association (EGBA) has published new pan-European guidelines to strengthen the anti-money laundering (AML) disciplines of licensed operators working across Europe.  The guidelines provide sector-specific best practices on industry AML standards to help operators and stakeholders apply a risk-based approach to manage their compliance duties. Guidance provided by the trade body recognises the complexities of operators …

Slovakia’s Ministry of Finance (MR-SF) continues to support its Montenegro counterparts in the policy development of the Western Balkan nation’s management of public finances. Forming part of the United Nations Development Programme (UNDP), last week MR-SF and Slovak gambling regulator URHH hosted a ‘study visit’ by representatives of Montenegro’s Ministry of Finance and its Office for Gambling Regulation, examining “how …

The European Gaming & Betting Association (EGBA) has underscored the significant progress in standards and best practices by members that have applied its Responsible Advertising Code.  The statement follows an independent evaluation undertaken by the European Advertising Standards Alliance (EASA), the Brussels-based association representing Europe’s self-regulatory organisations for advertising. Following its positive adoption by EGBA members, EASA had branded the …

European-licensed online gambling businesses have been alerted that the European Banking Authority (EBA) has called for its PSD2 supervision framework to be merged with the EU’s Electronic Money Directive.  The EBA, which serves as the regulatory agency for financial services of the EU, has recommended the merger of its e-payment supervisory schemes,  in response to stakeholder feedback and the ‘increasing …

Alberto Garzon, Spain’s Minister of Consumer Affairs, has vowed that Spain will become the first European country to have a ‘specific law’ to govern loot box and video game incentives.  The measure was declared at a video games seminar hosted by the Ministry of Consumer Affairs, which since 2020 has led the federal overhaul of Spain gambling laws. Garzon declared …

Pressure is mounting on Poland’s Ministry of Finance to undertake a review of its gambling tax structure, revitalising income generated from licensed bookmakers.     A cross-party Sejm (lower parliament) committee representing ‘Polish consumers and entrepreneurship’, had announced that it has submitted a proposal advising the Ministry “to abandon the 12% turnover tax applied to sports betting.” The Committee has advised the …