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Compliance Updates

Europe that Protects: Stronger rules criminalising money laundering enter into force

Zoltan Tundik

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Dimitris Avramopoulos at the Europe for Citizens - Meeting of the Civil Dialogue - Date: 28/11/2018 Reference: P-038870/00-05 Location: Brussels - EC/Centre A. Borschette © European Union , 2018 / Source: EC - Audiovisual Service / Photo: Benas Gerdziunas
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Today, the new measures to counter money laundering by criminal law enter into force across the EU. The new rules will ensure that dangerous criminals and terrorists face equally severe penalties for money laundering wherever they are in the EU, with a minimum term of imprisonment of 4 years.

Commissioner for Migration, Home Affairs and Citizenship Dimitris Avramopoulos said: “If we want to catch criminals and terrorists, we have to follow the money. Today, we are beefing up the EU’s response to money laundering, making sure that criminals and terrorists no longer get away with illegally gained money and face deserved justice. A Europe that protects is a Europe that effectively prevents and prosecutes criminals.”

Commissioner for the Security Union Julian King said: “Money laundering is a key tool used by terrorists and serious criminals to obtain funding – by harmonising the crime and the punishment across the EU, we can further close down the space in which they operate. Member States now need to implement the new rules without delay.”

The Commission proposed to harmonise offences and sanctions for money laundering across the EU in December 2017. While all Member States currently criminalise money laundering the definitions of this crime as well as the penalties related to it differ across the EU, allowing criminals to effectively “window shop” and exploit the differences between national legislation.

With the new rules in force that will be no longer possible. Member States now have 24 months to implement the new rules into national law and notify the Commission accordingly.

The recent changes and all AML related topics will be highlighted during Prague Gaming Summit by the attending experts of the gambling industry in a special panel discussion. You can find more details on the following page.

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

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Compliance Updates

Spain Moves Forward on Gambling Ads Ban

Niji Narayan

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Photo source: casinobeats.com
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The PSOE minority government in Spain is going to accept all the recommendations of Ombudsman Francisco Fernández Marugán to ban gambling advertising.

The Ministry of Finance has accepted the Ombudsman’s recommendations. That way, departments would have to enforce new restrictions on the gaming industry. The authorities will soon draft a Royal Decree to establish restrictions on gambling advertising in Spain.

The Ombudsman filed his recommendation with the ministries of Treasury and the Health, Consumer and Welfare. Within the filing, he asked for a complete ban on gambling advertising in Spain.

“kids’ viewing time needs to be clean of gambling ads and no celebrities should be shown advertising gambling,” he said.

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Compliance Updates

Nintendo, Sony and Microsoft to Disclose Loot Boxes Odds

Niji Narayan

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The Entertainment Software Association (ESA) has revealed that the console makers are working on policies that will require disclosure on loot boxes odds. Nintendo, Sony and Microsoft are working on policies that would require a loot boxes disclosure on their systems.

“These required disclosures will also apply to game updates if the update adds new loot box features. The precise timing of this disclosure requirement is still being worked out, but the console makers are targeting 2020 for the implementation of the policy,” Michael Warnecke, ESA chief counsel of tech policy said.

The list of member companies that committed to implementing the changes include: Activision Blizzard, Bandai Namco Entertainment, Bethesda, Bungie, Electronic Arts, Microsoft, Nintendo, Sony Interactive Entertainment, Take-Two Interactive, Ubisoft, Warner Bros. Interactive Entertainment and Wizards of the Coast.

“I’m happy to announce this morning that Microsoft, Nintendo, and Sony indicated to ESA a commitment to new platform policies with respect to the use of paid loot boxes in games developed for their platform. Specifically, this would apply to new games and game updates that add loot box features. And it would require the disclosure of the relative rarity or probabilities of obtaining randomised virtual items in games that are available on their platforms,” Warnecke said.

“The major console makers are committing to new platform policies that will require paid loot boxes in games developed for their platforms to disclose information on the relative rarity or probability of obtaining randomised virtual items,” Warnecke added.

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Compliance Updates

Green Jade Games Secures Malta Licence

Niji Narayan

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Green Jade Games Secures Malta Licence
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Green Jade Games has secured a supplier licence from the Malta Gaming Authority (MGA). The licence will allow Green Jade Games to offer its online casino games to the operators in regulated markets across Europe and further afield. The MGA licence comes just a few weeks after Green Jade Games secured a supplier licence from UK Gambling Commission.

Green Jade’s games combine gambling and skills to create games that allow players to determine the course of the narrative and the outcome of the game. The deeply entertaining games of Green Jade allow players to improve their skills at deploying game features while also having the opportunity to win potentially large cash prizes from relatively small stakes.

“Obtaining our licence from the Malta Gaming Authority is the next step in our plans to provide our games to all of the major online casino operators in regulated and regulating markets around the world. Our games are truly unique and genuinely innovative and now that we hold an MGA permit we can offer them to more operators, and players, than ever before. It also proves that we are meeting the highest possible standards when it comes to responsible gambling and protecting players,” Benedict McDonagh, CEO of Green Jade Games said.

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