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Compliance Updates

Cayman Islands amends gambling law

Niji Narayan

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Cayman Islands amends gambling law
Photo Source: visitcaymanislands.com
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The government of Cayman Islands has amended the gambling regulations. In the newly proposed the Gambling Amendment Bill 2018, which will be discussed in the next Meeting of the Legislative Assembly, the government plans to increase the penalties for engaging in acts of illegal gambling.

The purpose of the bill, according to the government website, is to slap higher penalties and stiffer punishment for those perpetrating illegal gambling than for individual participants.

“While illegal gambling has been a chronic problem in the Cayman Islands, the penalties have not undergone a revision since the first enactment of the Gambling Law in 1964. As such, in today’s climate, they do not properly reflect the gravity of this type of illegal activity,” said the government.

The new bill clearly defines that fines for use and ownership of premises for gambling, publication of lottery numbers and the use of money from gambling activities would increase from €350 to more than €8k, while maximum prison sentence would increase from one to three years.

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Compliance Updates

Ukraine’s Cabinet of Ministers Approves Establishment of Gambling Commission

Niji Narayan

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Ukraine’s Cabinet of Ministers Approves Establishment of Gambling Commission
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Ukraine’s Cabinet of Ministers has approved the establishment of a gambling Commission to regulate gambling and lotteries. Its work is scheduled to launch in November this year.

The Gambling Commission will issue licenses, monitor and control the activities of gambling business operators.

“The launch of the commission will make it impossible for illegal gambling establishments to operate under the guise of state lotteries. And the legalization of gambling will stimulate the economy, attract investment, create additional jobs and receive a significant source of additional revenue,” the Ministry reports.

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Singapore’s Home Ministry Confirms Launch of GRA by 2021

Niji Narayan

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Singapore’s Home Ministry Confirms Launch of GRA by 2021
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Singapore’s Ministry of Home Affairs has confirmed the establishment of the Gambling Regulatory Authority (GRA) by 2021.

According to a statement from the ministry in April, the new body will be a statutory board and will be reconstituted from the current Casino Regulatory Authority (CRA).

“The Ministry of Home Affairs will establish the Gambling Regulatory Authority and complete the review of gambling-related legislation in 2021,” a spokesperson said.

Notwithstanding the Covid-19 pandemic, the Singapore authorities said they were pushing forward with the plans to create the new body that will be responsible for “regulating the entire gambling landscape in Singapore.”

The Singapore authorities have said the move to consolidate regulatory functions under the GRA would ensure Singapore was “abreast of technological and global trends,” and could “respond faster to emerging products in particular those that cut across different domains, and take a more holistic approach to gambling policies and issues.”

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Compliance Updates

BGC Unveils New Code of Conduct for Design of Online Games

Niji Narayan

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BGC Unveils New Code of Conduct for Design of Online Games
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To improve the safety of players and tackle problem gambling, the UK Betting and Gaming Council (BGC) has unveiled a new code of conduct for the design of online games.

The new code of conduct follows on from the Safer Gambling Commitments published by the BGC in 2019 and is further evidence of the industry body’s commitment to driving up standards.

Among the major commitments included in the new code are minimum game cycle speeds of 2.5 seconds, the ending of turbo play, which allows players to speed up games, and the scrapping of multi-slot play, where a player can place multiple stakes on different games at the same time.

The code also introduces further mandatory checks on players’ activity to introduce breaks in play. All of these measures will be in place by the end of this month.

Michael Dugher, chief executive of the Betting and Gaming Council, said:

“The BGC was set up last year with the aim of leading a race to the top in terms of standards within the regulated betting industry.

“The new Game Design Code of Conduct is yet another example of our determination to address concerns head on and meet our safer gambling commitments.

“I’m sure that our members will embrace this approach and commit to its objective of improving player safety.

“And as we prepare for the forthcoming Gambling Review, it is further evidence of our industry’s commitment to improving standards – unlike the completely unregulated black market.”

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