Norway's Lottery Regulator Monitors 9 Banks' Gambling Transactions

[MissExposé]

The Norwegian lottery authority, Lotteritilsynet, is closely monitoring nine banks to ensure their compliance with the ban on processing transactions with unlicensed gambling operators, in accordance with the Norwegian Gambling Act's Section 5. While the regulator hasn't disclosed any violations or the banks' identities, it has initiated a comprehensive compliance supervision process, demanding details on measures taken by the banks to block such transactions and their internal processes for adhering to the prohibition.

Meanwhile, the European Gaming and Betting Association (EGBA) has called on Norway to abandon its state monopoly on online gambling, urging a move toward a licensing system to address issues like unlicensed gambling sites and align with neighboring European markets like Sweden and Finland.

Source: https://news.worldcasinodirectory.com/norways-lottery-regulator-supervises-9-banks-for-non-legal-gambling-transactions-110487

 

[Frank]

Norweigans are smart enough to use crypto, it wont make a differnece it just sends the transactiosn underground

 

[Conft]

I wonder how banks will be asked to spot these transactions? Surely the casinos use fake descriptions posing as other businesses (like seen with replica goods).

 

[TheGooner]

The Norwegian lottery authority, Lotteritilsynet, is closely monitoring nine banks to ensure their compliance with the ban on processing transactions with unlicensed gambling operators, in accordance with the Norwegian Gambling Act's Section 5.

And THIS is why banks and Governments are trying to minimise cash and prevent crypto from taking hold. Government Organisations continue to push the bounds of their authority way beyond any reasonable measure.

It's MY money - it's a legal pastime. This is just another example of authoritarian over-reach using banking tools to prevent people from making decisions.

Norway's citizens did NOT agree to this. UK and Australian citizens have also had their credit card use curtailed by zealous over-reach of government and banking lapdogs. They did not authorise it either - the decision was made without electoral discussion.

Bring in Crypto now - and remove government control from people's spending.