Norway submits new payment regulations to ban iGaming transactions

Payments

Norway in moving ahead with plans to block gambling payments. Under the new proposal the processing of payments from persons in Norway to remote gambling operators without a Norwegian license will be banned.

The new Act will affect Norwegian credit cards companies, banking institutions and other enterprises assisting in the transfer of payments for remote gambling to and from gamblers in Norway. The current regulation presupposes that the payment can be identified as payment for remote gambling.

The Norwegian Gaming Authority has the authority to decide to reject payment transactions to and from companies that carry out payment transactions on behalf of Gambling companies and not just payment transactions directly to and from gambling companies.

The Norwegian Gaming Authority may make a decision to reject payment transactions identified with the name of a gambling company or other entity that conducts payment transactions on behalf of the gambling company.

New provision for disclosure of banks and other entities providing payment services in Norway to the Norwegian Gaming Authority. The duty of disclosure shall include information on new account numbers relating to the Gaming Authority’s decision and information about transactions the banks have ceased from companies that provide gambling related payments that are not authorized in Norway.

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