Lottstift<\/em><\/strong><\/a>, the gambling regulator from Norway, confirmed on Thursday that the amendments to the payment pan will come into force on January 1, 2020. While the ban has been around since 2010, the regulator estimates that Norwegians still spend approximately \u20ac600k on unlicensed companies every year.<\/p>\n\n\n\nThe regulator said that around 250k Norwegians bet through foreign unlicensed gaming companies. The payment ban amendment is one of the measures that the regulator from Norway introduced to stop these gaming companies from offering their services. The goal is for Norwegian banks to stop money transfers to and from gaming companies.<\/p>\n\n\n\n
Rannveig Gram Sk\u00e5r, adviser and lawyer at the regulator, said that the foundation of the Norwegian gambling model is to protect vulnerable groups from becoming addicts.<\/p>\n\n\n\n
The regulator estimates that it will stop around \u20ac593k from being bet through unlicensed sites. \u201cWe see the effect of the work we are doing today, but the purpose of the changes is to make the payment service ban more effective,\u201d said the regulator.<\/p>\n\n\n\n
\u201cThe change also means that banks and others who have payment services in Norway must investigate all payment transactions to and from payment intermediaries or companies that are not allowed to offer gambling in Norway, if the regulator comes up with a decision on this.\u201d<\/p>\n\n\n\n
\u201cWe can also instruct banks and others with payment services in Norway to provide information about companies that provide payment related to gambling.\u201d<\/p>\n\n\n\n
The regulator has sent a letter of information to Norwegian banks, financial institutions and payment agencies about the changes.
<\/p>\n","protected":false},"excerpt":{"rendered":"
The gambling regulator from Norway has confirmed that the amendments to the payment ban will come into force on January 1, 2020.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Norway's gambling regulator, Lottstift, is implementing amendments to its payment ban, effective January 1, 2020, to enhance enforcement against unlicensed foreign gaming companies. The updated regulations mandate Norwegian banks and payment service providers to investigate and block transactions to and from entities not authorized to offer gambling in Norway, aiming to protect vulnerable groups and reduce the estimated \u20ac600k spent annually on illicit sites.","focusai_entities":"Lottstift, Rannveig Gram Sk\u00e5r","focusai_location":"Norway","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), affiliate_publisher (0.8), tech_data (0.7), payments_fraud_aml (1.0), investor_analyst (0.9), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Payment Ban Efficacy","query":"What specific metrics will Lottstift use to evaluate the enhanced payment ban's effectiveness in reducing GGR leakage to unlicensed operators, and what is the projected timeline for reporting initial results?"},{"label":"Bank Compliance Burden","query":"How will Norwegian banks and payment service providers operationalize the \"investigate all payment transactions\" mandate, and what are the potential compliance costs and technological investments required to meet these new regulatory obligations?"}],"footnotes":""},"categories":[16331,2234,156],"tags":[337],"class_list":["post-1639","post","type-post","status-publish","format-standard","hentry","category-elsewhere-news","category-emea","category-regulation-news","tag-regulation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/1639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=1639"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/1639\/revisions"}],"predecessor-version":[{"id":1641,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/1639\/revisions\/1641"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=1639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=1639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=1639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}