Compliance Updates

The most recent compliance updates of the online and land based gaming industry in the European Union, Asia, Russia and Americas

MFSA Approves MiFinity Malta as Financial Institution

 The HALLO ECHO
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  Global payments provider MiFinity’s fully owned subsidiary Mifinity Malta Ltd has been approved by the Malta Financial Services Authority (MFSA) has as a financial institution. This approval will support the existing Financial Conduct Authority (FCA) UK license, owned and operated by MiFinity UK Limited. MiFinity UK Limited is another fully owned subsidiary which is…

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Swedish Gambling Authority Orders Kindred to Pay SEK 100M for Bonus Violations

 The HALLO ECHO
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  Spooniker, the wholly-owned subsidiary of Kindred Group, has received a warning and a fine of SEK 100 million from the Swedish Gambling Authority (SGA) for bonus violations. SGA said that some of Spooniker’s offers, competitions and promotions come under the purview of financial incentives and, therefore, should be treated as bonuses. The provision of…

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German Legislators Approve New Gambling Regulations

 The HALLO ECHO
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  German legislators have approved the new gambling regulations that would legalise online poker and casino from 1 July 2021. A decision was also made on the location of the country’s new regulatory authority. Each of the German state parliaments must ratify the Glücksspielneuregulierungstaatsvertrag (GlüNeuRStv) bill, which intends to take the regulated igaming market into…

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MGA Suspends the Authorisation of Stakers Limited

 The HALLO ECHO
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  The MGA has decided to suspend the authorisation specifically the Recognition Notice granted by the Authority number RN/112/2019, awarded to Stakers Limited (RN/112/2019) effective as of 9 March 2020 in terms of regulation 9(2) of the Gaming Compliance and Enforcement Regulations (S.L. 583.06). Stakers Limited is thus no longer authorised to carry out any…

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Betway to Pay Fine for Failings Related to “VIP” Customers

 The HALLO ECHO
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  Online gambling operator Betway has agreed to pay a penalty of £11.6 million for a series of social responsibility and money laundering violations connected to the accounts of seven of its “VIP” customers. In one case, Betway failed to do the source checking of funds from a “VIP” customer who deposited more than £8m…

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Swedish Gambling Authority Warns Enlabs

 The HALLO ECHO
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  Spelinspektionen, the Swedish national gambling regulator, has warned the igaming operator Enlabs for the delay in starting operations. The operator made it clear that the company could lose its licence if it does not start its gaming operations by July. Enlabs obtained the Swedish igaming licence to start functioning in 2018. However, the company…

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