Legislation News of the Week: Totti Faces Money-Laundering Allegations, Finland Puts Its Monopoly System to an End

Italian authorities are investigating Francesco Totti. Finland is getting rid of the gambling monopoly. In the meantime, two new licensees stepped into the German slots market. Curacao authorities rescheduled the upcoming gambling overhaul. And the Lithuanian regulator has discovered new violations by Top Sport.

Potential money-laundering scandal with Francesco Totti

La Verità, which is a popular Italian newspaper, reported that investigators were interested in some of Francesco Totti's payment transactions. The legendary Roma player is suspected of money laundering, and the authorities are examining his banking transactions.

The report showed that Totti made a suspicious payment last August when he sent €80 000 to a pensioner who lived in Anzio. This woman turned out to be the mother-in-law of a man who was considered one of the closest friends of the retired football player. She sent the mentioned amount to this friend on the same day she received the money.

On top of that, investigators have already found more questionable transactions involving Francesco and his friend that even reach millions of euros. And although Totti's risk managers disagree with the allegations, the investigation continues.

No more gambling monopoly in Finland

The Finnish government has decided to officially give up the state gambling monopoly, which belongs to the Veikkaus company. Instead of this model, the authorities plan to develop and implement a licensing framework for all operators.

Olli Sarekoski, the CEO of the said company, began discussing the abandonment of the monopoly system in the summer of 2022. He noted that Veikkaus lost the lion's share of its customers and profits due to the prosperity of the illegal gambling market in the country.

To stop this dangerous trend, the authorities want to reform gambling laws and approve uniform licensing rules as soon as possible. This decision will allow them to protect players from questionable practices used by offshore operators.

Germany welcomes two more new slots licensees

As the German gambling regulator gains full control over the industry in the country, it continues to issue new licenses. The latest companies that were added to the list of slots licensees were Bet-at-home and SkillOnNet.

Thanks to the obtained license, SkillOnNet will be able to promote slot games in the online sector through all of its brands operating in Germany. As for Bet-at-home, it has not only received a license for online slot games but also extended its sports betting license.

Both operators noted that obtaining these significant legal permits is essential to their sustainable future. In addition, the approved licenses testify to the high standards of these companies when it comes to gambling services.

Curacao will reform the gambling business according to a new schedule

The Dutch authorities stated that Curacao has received feedback regarding the gambling reform from stakeholders. In light of the information received, the island region is adjusting the schedule for implementing the planned legislative changes.

In 2020, the Netherlands provided Curacao with humanitarian aid to help it cope with the effects of the global pandemic. However, the Dutch government has also asked the island to revise some gambling reforms in return.

The Curacao licensing system was considered one of the most liberal in the world. But it will have to tighten up its rules and substantially raise the entry threshold for many operators now. Licensees will have to do more to counter money laundering. Moreover, each of them will be required to reserve at least three key positions for employees who will work on the island.

Lithuanian regulator fined Top Sport again

Top Sport, which operates in the Lithuanian gambling market, got another fine from the local regulatory authority. This time around, the operator was again fined for violations related to CCTV use at its land-based facilities.

Incorrect installation of a video surveillance system in one of its betting outlets located in Vilnius cost Top Sport €15 000. The problem was that the quality of the video recordings was insufficient to clearly see the actions of cashiers and customers.

Besides that, the regulator noted that Top Sport did not save all the necessary videos recorded at the facility, and this also goes against the Gaming Law of the Republic of Lithuania.

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