Lotteritilsynet warns gambling firm for illegal marketing
Lotteritilsynet has recently issued a warning to an iGaming operator for advertising unlicensed gambling offerings in Norway.The operator in question is Schpell, which...
Lotteritilsynet to audit illegal gambling transaction blocks
Lotteritilsynet will be auditing nine Norwegian financial institutions to verify whether they appropriately block transactions to and from unauthorized operators or not.
The regulator’s latest compliance review will be the first one of its kind to focus on financial institutions and their blocking efforts of transactions going from and to illegal gambling businesses. Facilitating transactions involving unauthorized and unlicensed gambling companies is illegal in Norway, with the market’s regulator having the ability to order all of the country’s banks and other financial firms to blacklist transfers involving certain accounts.
Lotteritilsynet mentioned in its announcement that it has requested nine banks to show what steps they take to identify transactions involving illegal gambling operators and how these transfers are restricted. The regulator has also requested the financial institutions to provide details on their internal procedures and policies relating to their compliance with the law prohibiting transactions involving illegal companies.
The authority has given the firms that will be audited as part of the investigation three weeks to submit the requested information. Lotteritilsynet stated that it expects that this review will have positive results and that other similar investigations will be carried out following it to review the compliance efforts of other gambling companies in Norway.
Lotteritilsynet orders reduction of marketing spend
The two authorized gambling firms in Norway are reducing their advertising spending as ordered by the Lotteritilsynet.The Lotteritilsynet has recently published an...
