Lotteritilsynet, the Norwegian lottery authority, will continue to oversee the country’s nine banks to ensure compliance with the ban on “processing transactions” with unlicensed operators.
Norwegian Lottery Monitoring Compliance
In accordance with section 5 of the Norwegian Gambling Act, which states that banks in Norway cannot facilitate deposits and withdrawals for sites without licenses, Lotteritilsynet is reinforcing its commitment to enforcing this regulation. Although the regulatory body hasn’t disclosed any violations or the identities of the banks involved, it has confirmed that it will implement “supervision of compliance” for all nine banks.
Lotteritilsynet possesses the authority to compel banks to cease transactions to and from specific firms and accounts. In addition to this, the regulator has requested that each bank provide details about the measures they’ve taken to block transactions with unlicensed operators’ sites, as well as insight into their internal processes for complying with the prohibition.
Rannveig Gram Skår, a lawyer representing Lotteritilsynet, commented, “For a long time, we’ve focused on dialogue with Norwegian banks and financial institutions. For the first time, we have chosen to open a more thorough inspection of compliance. We know that the payment intermediary ban is an important tool to protect the Norwegian sole proprietorship model. The purpose of the model is to prevent gambling problems and other negative consequences of gambling.”
Banks have been given a three-week deadline to respond to the regulator’s initial requests, and Gram Skår expressed the expectation that the banks have effectively adhered to the regulatory decisions.
EGBA Calls for Change
Norway remains one of the few European countries with a state monopoly on online gambling. Norsk Tipping handles sports wagering and online casino gaming, while Norsk Rikstoto covers horse racing, resulting in limited iGaming options.
Last week, the European Gaming and Betting Association (EGBA) urged Norway to transition from its nationwide online gambling monopoly to a licensing system, following the example of neighboring countries like Sweden and Finland. The EGBA emphasized that this shift would help combat issues such as consumers gambling on unlicensed sites.
Maarten Haijer, EGBA Secretary-General, noted, “This would help combat issues such as consumers gambling with unlicensed sites.”
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About
The Norwegian Gambling Authority, a public entity, assumes a pivotal role in overseeing all lotteries, whether privately or state-operated, within Norway. This encompassing responsibility extends to the monitoring of gambling and horse racing, each managed by Norsk Tipping and Norsk Rikstoto, respectively. These organizations maintain national monopolies within their designated domains.
The regulatory endeavors of the Norwegian Gambling Authority are steered by three fundamental objectives:
- Ensuring Satisfactory Arrangement: The authority is dedicated to upholding gaming schemes’ integrity, ensuring their operation aligns with principles of public control and transparency.
- Preventing Negative Consequences: A steadfast commitment exists to thwart any adverse repercussions stemming from gaming activities, with a strong emphasis on promoting responsible gaming practices.
- Supporting Good Causes: Profits yielded from these gaming operations are thoughtfully directed toward approved charitable endeavors, thereby contributing to the greater welfare.
The Foundation Authority
The Foundation Authority’s purview extends to the supervision of Norwegian foundations, with a primary focus on safeguarding their steadfast dedication to their predefined missions.
Key responsibilities encompass:
- Maintenance of the Foundation Register: The authority undertakes the ongoing operation and enhancement of the Norwegian Foundation Register, ensuring that it remains comprehensive and up-to-date.
- Prevention of Unauthorized Foundations: Stringent measures are implemented to preempt and identify any unauthorized or non-compliant foundations, ensuring strict adherence to the Foundations Act.
- Provision of Guidance: The authority serves as a valuable source of guidance and information for foundations, the general public, and government bodies alike. This support fosters transparency and adherence to regulatory standards.
Periodically, the National Foundation Conference, hosted in Førde every alternate year, assembles to deliberate on topics of relevance to foundations of varying sizes. This collaborative forum serves to fortify the foundation sector and advance responsible stewardship.
In both the gaming and foundation sectors, a steadfast commitment is maintained to uphold the utmost standards of integrity, equity, and accountability, all in service of the interests of the Norwegian populace and the broader societal good.