Central Europe

Hungarian Regulator to Block Illegal Gambling Bank Accounts

Published

2 years ago

July 5, 2023

Niji Narayan

Reading Time: < 1 minute

Hungary’s Supervisory Authority for Regulated Activities (SZTFH) has taken new measures to combat illegal activities – including blocking bank accounts related to illegal online gambling.

From this month onwards, SZTFH will limit deposits and withdrawals from bank accounts that engage in illegal gambling on unlicensed websites. In turn, Hungarian banks will refuse card payments that are made to unlicensed sites.

SZTFH said that any winnings gained while gambling on illegal sites may not be paid to customers after the restrictions come into place.

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Niji Narayan

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.