Compliance Updates

EGBA on Finland’s Missed Opportunity For Overdue Gambling Reform

Published

4 years ago

December 21, 2021

Reading Time: 2 minutes

The Finnish government’s proposal to introduce payment blockings for online gambling has been approved by the country’s parliament but, with its introduction, policymakers have missed an opportunity for meaningful and overdue gambling reform in the country.

On 14 December, Finland’s parliament approved an amended version of a government proposal to introduce blocking measures for payment service providers (PSP) with the aim of restricting Finns from accessing non-Finnish gambling websites. The government justifies the PSP blockings on consumer protection grounds, but critics argue it will restrict consumer freedoms and choice.

Today, Finland is the only EU member state which still has an exclusive online gambling monopoly model, but its monopoly has come under increasing public scrutiny in recent years and increasing pressure from the demand of the country’s gamblers for more online consumer choice. The government’s proposed PSP blockings, part of a group of amendments to the country’s Lottery Act, seeks to address this by blocking Finns’ payments to and from non-Finnish gambling websites.

This week, a majority in the country’s parliament agreed on an amendment to block only those payment transactions from Finnish gamblers to non-Finnish gambling websites and not vice versa. This was after parliamentarians had raised several concerns about the proposals,[1] including concern that blocking players winnings would be unconstitutional. Following the parliament’s approval, the amended Lottery Act will now come into force from 1January 2022 and the new payment blockings will be introduced at the start of 2023.

Experience from other countries shows that PSP and other blockings do not significantly affect consumer demand and, with its introduction, EGBA believes that policymakers have missed an opportunity for meaningful and overdue gambling reform in Finland. At the same time, EGBA welcomes the growing discussion both in the country’s parliament and in wider society about the future of Finland’s gambling policy. EGBA members are established, licensed, and regulated in most EU member states and would welcome the opportunity to apply for a license, be regulated, and pay taxes in Finland – but are still prevented from doing so by the country’s current gambling laws.

“The introduction of PSP blockings is an implicit admission that many of Finland’s gamblers prefer to bet on other websites rather than that of the state-run monopoly. There are many reasons why they do so: the availability of better betting odds, and better diversity and expertise in the products offered, are to name a few. In the online world, consumers vote with their feet and that is why we will continue to encourage the government to rethink, rather than reinforce, the country’s online gambling monopoly model and advocate for the benefits of establishing a well-regulated, multi-licensing model for online gambling in Finland.” – Maarten Haijer.

Compliance Updates

Million Games Secures Swedish Licence Ahead of ICE Barcelona 2026

Published

1 day ago

November 3, 2025

George Miller

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Million Games has been officially approved by the Swedish Gaming Authority (Spelinspektionen) for a licence to provide commercial online games in Sweden. The milestone marks a major step in the company’s strategic expansion into regulated markets — perfectly timed ahead of Million Games’ appearance at ICE Barcelona 2026.

“This achievement represents more than compliance — it’s a milestone that defines our direction as a company,” said Thomas Nimstad, CEO of Million Games. “Sweden is our home market, and obtaining this licence reinforces our commitment to quality, responsibility and innovation. The timing couldn’t be better as we prepare to showcase our growing portfolio at ICE in Barcelona.”

A licence that opens doors

With the Swedish licence now secured, Million Games is ready to begin the next phase — certifying individual game titles and forming partnerships with Swedish operators and aggregators. The company’s expanding portfolio includes feature-rich video slots, table games, multiplayer formats and instant-win experiences developed in-house and through its Million Stars partner programme.

Million Games will continue aligning its products and internal processes with the highest regulatory standards, ensuring full compliance with Spelinspektionen’s technical requirements and player protection framework.

ICE Barcelona 2026 – a showcase of innovation

As one of the industry’s largest global exhibitions, ICE Barcelona 2026 offers the perfect platform for Million Games to present its vision for regulated market growth. Visitors will find the team at Stand 2C72, where upcoming game releases, partner collaborations and future roadmap highlights will be unveiled.

“Gaining the Swedish licence before ICE is the ideal timing,” Nimstad adds. “It allows us to meet potential partners face-to-face, demonstrate our compliance-ready portfolio, and strengthen Million Games’ position as a trusted, creative studio in regulated markets.”

The post Million Games Secures Swedish Licence Ahead of ICE Barcelona 2026 appeared first on European Gaming Industry News.

Belgian gaming regulator

Belgian Regulator Supports New Law for Tougher Player Protection and Increased Oversight

Published

4 days ago

October 31, 2025

Niji Narayan

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The Belgian gaming regulator Kansspelcommissie (KSC) has issued an endorsement of a proposed legislative bill aimed at strengthening player protection and enhancing regulatory oversight over gambling in Belgium.

The draft legislation’s key provisions include a proposed weekly deposit cap of €200 ($232.85) per gambling platform, a prohibition on gambling with credit, restrictions on the number of betting licences issued to newsagents and an extension of the national gambling self-exclusion register to include bars. The bill also proposes limits on the number of slot machines permitted in bar settings.

The bill also seeks to address the regulator’s concerns about its own operational capability and staff shortages. It proposes that the regulator must have at least 10 full-time members of staff, and it would also increase the maximum number of police officers that can be seconded to the commission be from four to eight.

While the KSC has broadly endorsed the bill’s objectives, it has recommended a phased rollout for certain measures, particularly the expansion of the exclusion system, which is expected to be fully implemented by May 2026. The commission also expressed some reservations about a total ban on credit card gambling.

The post Belgian Regulator Supports New Law for Tougher Player Protection and Increased Oversight appeared first on European Gaming Industry News.

AUSTRAC

AUSTRAC Cracks Down on Cryptolink for Late Reporting

Published

4 days ago

October 31, 2025

Niji Narayan

austrac-cracks-down-on-cryptolink-for-late-reporting

Reading Time: 2 minutes

AUSTRAC has issued Cryptolink an infringement notice of $56,340 and accepted a court-enforceable undertaking that addresses the company’s AML/CTF deficiencies.

The action follows AUSTRAC’s Crypto Taskforce identifying late reporting of large cash transactions and weaknesses in the company’s money laundering and terrorism financing risk assessments.

AUSTRAC CEO Brendan Thomas said the package of infringement notices and the enforceable undertaking is designed to ensure useable intelligence does not slip through the cracks.

“The infringement notice addresses previous non-compliance around reporting and the enforceable undertaking seeks assurance that Cryptolink has improved its risk assessments and strengthened its AML/CTF controls,” Mr Thomas said.

“Crypto ATMs are one of the highest risk money laundering channels in Australia at the moment. They are being exploited by criminals to launder money and move scam proceeds. This is not conjecture. It’s what our Crypto Taskforce observed and has been backed up by the work of our law enforcement partners.”

As part of the enforceable undertaking, Cryptolink must engage third party reviewers to:

• validate whether the business has reported all required threshold transactions to AUSTRAC

• assess whether the business has implemented effective controls for large cash transactions

• review Cryptolink’s money laundering and terrorism financing risk assessment to ensure it is fit-for-purpose.

Cryptolink has fully cooperated with AUSTRAC and paid the infringement notice in full. Payment of an AUSTRAC infringement notice is not an admission of liability.

The enforcement action comes after intensive engagement with crypto ATM operators since late 2024.

Working in partnership with law enforcement, AUSTRAC’s Crypto Taskforce estimated that 85% of transactions made by the 90 most prolific crypto ATM users were the proceeds of scams and money mule activity.

“Scams are one of the biggest drivers of suspicious activity and criminals have been using crypto ATMs to move and cash out stolen funds,” said Mr Thomas.

A recently released Australian Institute of Criminology report found more than 40% of cybercrime victims are revictimised, often within months.

“With this in mind we want people to be cautious of making transactions to any wallet they don’t control and thinking twice in circumstances where someone asks you to deposit money into a crypto ATM.”

The second stage of the Crypto Taskforce is focussed on high-risk operations.

“Criminals don’t care how they hurt people, they care about making money,” said Mr Thomas.

“We want to work with the digital currency exchanges to harden the sector against exploitation but if operators don’t take this seriously, we will take action.”

The post AUSTRAC Cracks Down on Cryptolink for Late Reporting appeared first on European Gaming Industry News.