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EU tightens online gambling controls to combat fraud

Wednesday 24 October 2012 14:05 CET | News

The European Commission has pointed out several measures to tighten controls on online gambling in order to combat fraud and money laundering.

According to the European internal markets commissioner Michel Barnier, cited by online media outlet news.yahoo.com, consumers have to be adequately protected and money laundering and fraud must be prevented, sport must be safeguarded against betting-related match-fixing and national rules must comply with EU law.

Among the major issues, the Commission also mentioned the need to protect children and other vulnerable groups and to prevent fraud and money-laundering via online gambling operations.

The European online gaming industry is expected to account for EUR 13 billion by 2015 but alongside regulated websites, there were countless others that were unregulated and often outside of the EU.
 


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Keywords: online gambling, online fraud, European Commission, money laundering
Categories: Fraud & Financial Crime
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Countries: World
This article is part of category

Fraud & Financial Crime






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