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Home » Norway Introduces Strict Payment Processing Rules To Restrict Unlicensed Gambling Operators
Norway Introduces Strict Payment Processing Rules To Restrict Unlicensed Gambling Operators
Norway Introduces Strict Payment Processing Rules To Restrict Unlicensed Gambling Operators
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Norway Introduces Strict Payment Processing Rules To Restrict Unlicensed Gambling Operators

In its bid to prevent gambling operators from offering unauthorized gambling services, the Norwegian government has brought in new measures related to payment transactions.

According to the reports and multiple complaints that have been filed with the country’s gambling regulator (Lottsift), operators have been dealing in services for which they do not have the necessary permissions. The new payment regulation for gambling will restrict gambling operators from evading the authorities.

As a part of the new regulation, the government has announced that no payments can be made to illegal gambling operators and neither can one receive any payments from an unauthorized operator. This will make it difficult for illegal operators to offer services as currently, the unlicensed operators provide gambling products and services and other companies facilitate their payment transactions.

Trine Skei Grande, Minister of Culture and Gender Equality, “The purpose of the changes is to streamline an existing ban on the payment of money games without Norwegian permission. Banks have stated that they want it to be clearer what the authorities expect from their side to follow up the payment intermediation ban. We have therefore specified which specific obligations the banks have to comply with the prohibition.”

The new measure will be applicable for gambling operators and also on payment services providers in Norway. Even the banks will now have to verify the source and not accept money from unlicensed gambling operators and also no payments can be processed for them.

“The changes will help make it less attractive to play on foreign gaming sites without Norwegian permission. The unregulated players offer games with a higher risk of gambling addiction and are not subject to the same accountability measures as the gaming offer of Norsk Tipping and Norsk Rikstoto,” the minister explained.

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Harry Matthew

Harry Matthew

Harry serves as a resident reporter for Casino Buzz. He has been responsible for building the content base and forms the core reporting strategies for the website. Along with reporting, Harry is an amazing baseball player with good record at university level. He can be reached at [email protected]

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