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Lithuanian Gaming Control Authority Fines UAB New Miracle

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4 years ago

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Lithuanian Gaming Control Authority Fines UAB New Miracle
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The Lithuanian Gaming Control Authority has issued a fine to lottery operator UAB New Miracle after ruling that it breached regulations related to money laundering and terrorist financing.

The Authority investigated the operator’s activities in 2019 and 2020, identifying a series of failings in the process.

According to the Authority, UAB New Miracle did not properly identify and verify customers prior to entering into business relationships, while the operator also failed to check if there were players that required enhanced identification upon registration.

The Authority also said UAB New Miracle did not have in place an appropriate internal policy and internal control procedures to ensure effective prevention of money laundering and terrorist financing, as required by law in Lithuania.

As a result, the Authority issued a fine of €10,000 and ordered UAB New Miracle to make the relevant changes to its operations by 7 June at the latest.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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