Compliance Updates
UK House of Lords Calls for Urgent Regulation of Loot Boxes
The House of Lords Gambling Committee has urged the UK government to classify video game loot boxes as “games of chance.” The recommendation came as part of a wide-ranging report in which the committee suggested a number of changes to the gaming industry.
“If a product looks like gambling and feels like gambling, it should be regulated as gambling. The government must act immediately to bring loot boxes within the remit of gambling legislation and regulation,” the report says.
Loot boxes have long been controversial in video games. They offer players a chance at a randomised reward when opened. To further complicate matters, boxes can often be bought for real money, and the rewards can sometimes be traded.
Lord Grade, chairman of the committee, said that lots of other countries have already started to regulate loot boxes because “they can see the dangers” which is teaching “kids to gamble.”
He said the Gambling Act was “way behind what was actually happening in the market” but he added that the “overwhelming majority” of the report’s recommendations “could be enacted today” as they do not require legislation.
The Lords report is wide-ranging, covering the entire gambling industry, but focuses in part on new forms of gambling, and those targeted towards children.
“There is academic research which proves that there is a connection, though not necessarily a causal link, between loot box spending and problem gambling,” it says.
The Lords report concludes that ministers should make new regulations which explicitly state that loot boxes are games of chance. It also says the same definition should apply to any other in-game item paid for with real money, such as FIFA player packs.
The government told the committee that its planned future review of the Gambling Act would focus on loot boxes. But the Lords report warns: “This issue requires more urgent attention.”
Powered by WPeMatico
Asia
WorldMatch Certifies Games for the Philippines
WorldMatch has announced the release of the first batch of its certified games for the Philippines market. This significant milestone marks a crucial step in the company’s global expansion strategy and commitment to providing high-quality gaming experiences to Filipino players.
The initial batch, comprising carefully selected games certified to meet the regulatory standards of the Philippines, promises to offer a wide variety of entertainment options for players in the country. From classics to modern titles, each game has been designed to deliver an engaging and enjoyable experience for users.
“This is an exciting moment for us. We are thrilled to bring our expertise and innovation to the Philippines market and collaborate with brand new partners to deliver extraordinary gaming experiences to local players,” said Xhuljana Demerxhiu, Head of Sales at WorldMatch.
The post WorldMatch Certifies Games for the Philippines appeared first on European Gaming Industry News.
Compliance Updates
NIGC Announces Acting Chair
The National Indian Gaming Commission announced the President’s appointment of Associate Commissioner Sharon M. Avery as Acting Chair of the Agency, effective May 15, 2024. Secretary of the Interior Deb Haaland recently appointed Avery to a three-year term as Associate Commissioner, effective May 6, 2024. Avery will serve both as Associate Commissioner and Acting Chair until a presidentially appointed, Senate-confirmed Chair is in place.
As Acting Chair, Avery has the same statutory authority to lead the Agency and take official actions as a Senate-confirmed appointee.
“I am humbled the administration has entrusted me with the distinguished opportunity to serve as the NIGC Acting Chair. In this capacity, and to the best of my abilities, I will diligently execute my duties and responsibilities designated by the Indian Gaming Regulatory Act to continue the Agency’s regulatory oversight of tribal gaming facilities without disruption, until a permanent Chair has been confirmed,” said Avery.
Avery is an enrolled member of the Saginaw Chippewa Indian Tribe of Michigan. She has been with the NIGC for over four years where she has served as an Associate General Counsel in the NIGC Office of General Counsel. Before joining the NIGC, Avery served for more than 10 years in the legal department for the Saginaw Chippewa Indian Tribe of Michigan. Most recently, she served as the Tribe’s General Counsel for Tribal Operations.
Compliance Updates
Spillemyndigheden: Anti-Money Laundering- A report to the police must be followed up by a notification
Notifications to the Money Laundering Secretariat is one the most important sources of information on money laundering and financing of terrorism. A notification is information about a potentially criminal act, and it cannot be replaced by a report to the police.
Gambling operators are obligated to notify in accordance with section 26 of the AML Act. The obligation to notify means that gambling operators must immediately notify the Money Laundering Secretariat if they know of, suspect, or have reason to believe that a transaction, funds or an activity is or has been linked to money laundering or financing of terrorism.
Notifications are essential for the role of the Money Laundering Secretariat, as notifications can in themselves constitute a case. In addition, a notification about a suspicion can be part of a larger case of other suspicious matters.
Police reports cannot replace notifications
There are no exceptions to the obligation to notify even if you have reported the matter to the police. In case a gambling operator has reported a customer to the police, the gambling operator must also notify the Money Laundering Secretariat which is an authority independent from the police.
The post Spillemyndigheden: Anti-Money Laundering- A report to the police must be followed up by a notification appeared first on European Gaming Industry News.
-
Canada6 days ago
Court Decision Upholds iGaming Ontario’s Model
-
Compliance Updates6 days ago
Supremeland Gaming Continues U.S. Expansion With Supplier License Approval In Michigan
-
Asia5 days ago
From LatAm to Asia: Meet GR8 Tech at SiGMA Manila
-
Latest News5 days ago
Games Global and OROS Gaming add to acclaimed series with Magnificent Power Wolf Fire Spirit™
-
Latest News5 days ago
NetBet Casino Joins Forces with Yggdrasil
-
Latest News5 days ago
Yggdrasil and Bang Bang invite players to brave nuclear waste in Mutant Trawlers
-
Latest News5 days ago
Wizard Games embarks on a spellbinding adventure in Wynmor’s Tales – The Rise
-
Albert Bellavista CEO at Betsala5 days ago
Relax Gaming enhances Latin American presence with Betsala partnership