Russia: stronger punishment to illegal gambling

The Parliament is working to pass a bill that will introduce severe penalties for the organization of illegal activities related to gambling.

Russia.- The Russian parliament is working on a bill that would be launched to strongly penalize the organization of illegal gambling activities. 

The draft document has already passed three readings in the lower house of the parliament and has to be considered by the higher house before being signed into law by President Vladimir Putin. 

The objective of this new legislation is preventing the organization of gambling under the guise of the trading of securities, as well as under the guise of bookmakers and totes.

According to this bill, the Bank of Russia can cancel the securities license of a securities market participant for organizing illegal gambling or for violating lottery laws by holding lotteries without government permission. 

It also would make possible to cancell a gambling license in case of inaction of a gambling activities organizer during a quarter in a calendar year.