UKAS’ Post

Keep monitoring the situation with the gambling regulation in Brazil 🇧🇷

Obtaining an online betting license in Cyprus requires compliance with the regulations set forth by the National Betting Authority (NBA), the regulatory body responsible for overseeing gambling activities in the country. It's essential to engage legal and regulatory experts with experience in the Cypriot gambling industry to navigate the licensing process successfully. Additionally, the specific requirements and regulations may evolve over time, so it's important to stay updated on any changes to ensure ongoing compliance with the law. #CypriotGamblingIndustry #LegalExperts #RegulatoryCompliance #GamblingLicensing #IndustryUpdates #StayCompliant #ExpertAdvisory #betconsultantcy

Sweden’s New Responsible Gambling Regulations: A Step Towards a Safer Market Starting October 1, 2024, Sweden will enforce new rules to tighten responsible gambling practices. Spelinspektionen, the national gambling regulator, will now have greater authority to demand comprehensive action plans from licensed operators, aimed at minimizing gambling-related harm. This move is part of a broader effort to protect vulnerable players and ensure a higher standard of care across the industry. With 4% of Swedes affected by problem gambling, and 130,000 living with someone who struggles with gambling, the government’s intervention is crucial. However, some in the industry are concerned that these stricter regulations could drive players to unregulated offshore sites, where protections are lacking. In addition to these new rules, Sweden is preparing to implement a credit card ban for gambling starting April 1, 2025, reinforcing its commitment to responsible gambling. #ResponsibleGambling #Sweden #Spelinspektionen #ConsumerProtection #GamblingIndustry

Analysis of Regulated Gambling in Brazil, from inmost the country https://lnkd.in/dfK8FE5s (Brazil) - Brazil's SPA regulation drives security and transparency in the online gambling sector, with a focus on data protection, responsible gambling, and sporting integrity. This strategic analysis highlights the importance of regulation to ensure a fair and competitive market.

Licensees are reminded that from 1 July 2024, quarterly regulatory returns will come into force for all types of operating licences. The Gambling Commission has published further information on these changes ahead of its update to the LCCP on 1 July 2024, which Christopher Biggs highlights in our latest blog. #LCCP #regulatoryreturns #gamblingcompliance https://lnkd.in/efb3nFCt

During recent Healthchecks and audits AMLGS has conducted, a regular trend emerged: operators interpreting recycled winnings for commercial gain without documented evidence, contrary to explicit guidance. Thankfully, our partners swiftly implemented our recommended changes. To fellow gambling operators, consider both Health Checks and external audits to proactively assess and fortify your procedures. Waiting for a regulatory assessment may lead to significant consequences. Prioritise these measures now to safeguard your operations.

During recent Healthchecks and audits AMLGS has conducted, a regular trend emerged: operators interpreting recycled winnings for commercial gain without documented evidence, contrary to explicit guidance. Thankfully, our partners swiftly implemented our recommended changes. To fellow gambling operators, consider both Health Checks and external audits to proactively assess and fortify your procedures. Waiting for a regulatory assessment may lead to significant consequences. Prioritise these measures now to safeguard your operations. https://lnkd.in/e75rYQyg

What's happening in gambling compliance: Malta Flags Concerns With Ireland's Gambling Bill 🎲 Malta has submitted two separate notifications to the European Commission flagging what it considers to be a host of regulatory barriers that may be a “cause for concern” in Ireland’s Gambling Regulation Bill 2022 🎲The notifications were published by the commission on December 5 🎲One of the notifications states that Malta “considers the collective effects of the Draft Bill to be a threat to the freedom to provide services” Read the full article by Harrison Sayers: https://lnkd.in/eySGHgne #gamblingnews #gamblingindustry #complianceblog

In her blog the Chairman of the Gambling Association of Ukraine and Deputy Chairman of the Ukrainian Gambling Council for Communication Viktoriya Zakrevskaya emphasizes that de-shadowing of gambling did not reach lotteries: "Unfortunately, the gambling market reform did not manage to fulfill all the tasks of creating a white and transparent gambling market. To date, an entire sub-sector of the gambling business remains unshadowed. The national legislation still considers lotteries to be a kind of independent and unrelated business activity. This creates unequal conditions for legal gambling market organizers and lottery operators. However, domestic lawmakers are not bothered by this. Nor is the fact that such a situation creates the basis for the growth of corruption, the emergence and operation of illegal gambling platforms, and other problems in the gambling sector". Link https://lnkd.in/dQ9G-Hm4  

🇬🇧✉️ UK introduces quarterly reporting requirements for iGaming operators From July 1, the UK regulator (UKGC) has made it mandatory ( https://lnkd.in/drXxDXw ) for operators to submit quarterly reports within 28 days of the end of each quarter. 🔸 First reporting period: July 1 - September 30, 2024 🔸 Deadline for submission of reports: October 28, 2024. The UKGC and the Betting and Gaming Council (BGC) have also introduced measures to reduce financial harm to punters, including: 🔸 Financial vulnerability checks 🔸 Stricter age verification procedures 🔸 BGC's voluntary code of practice on customer checks and interventions #consulting #business #technology #tech #law #lawyer #legal #lawyers #lawfirm #startup #forex #taxus #london #uk #license #lawyerlife #businessowners #entreprenuer