SBC News

With great power comes great responsibility, and this Hollywood-born principle fully applies to operators licensed by the UK Gambling Commission (UKGC).

Participating in one of the most developed and high value gambling markets in the world requires tremendous commitment to safeguarding the highest player safety principles. This includes staying ahead of the risk trends that face the industry.

As a regulator, the UKGC holds the responsibility to inform shareholders of any developments in the crime world and issue guidance on how to avoid them, optimising the regulatory landscape accordingly with licence conditions and codes of practice.

In the wake of some recent enforcement actions against operators for breaching AML and social responsilibty licensing conditions, the UKGC has updated its profiles on the risks betting firms come up against.

FX services
First on the list the UKGC advised licensed remote and non-remote casinos with money service business (MSB) facilities to practi..

Ricardo Assis: SBC Noticias Brazil
The Central Bank of Brazil has monitored R$30 Billion per month since Bets activation. However its leadership warns ministers that Pix payment system cannot be ssed as a consumer control…

The highest-ranking officials of Brazil’s Central Bank have become the latest figureheads to provide testimony to the Commission of Inquiry on Online Gambling (CPI of Bets).

Gabriel Galípolo, President of the Central Bank, was joined by Executive Secretary Rogério Lucca to face questions from CPI Chair Senator Soraya Thronicke (Podemos-MS) and other senators and ministers in attendance.

Taking place on Tuesday, the hearing of the Central Bank executives was deemed critical by the Commission in determining measures to “limit consumers from excessive debt” – the principal remit which sanctioned the CPI of Bets.

The hearing opened with Galípolo and Lucca providing an analysis of the market expansion of the Bets regime following its activation on 1 January 2024.

Luc..

A Finnish law firm has informed the Helsinki Times that betting and gambling are the third biggest growth drivers of over-indebtedness among Finns.

Takaisinperintä, a law firm which specialises in serving financially vulnerable clients, told the outlet that it had conducted a survey of 765 heavily indebted people, asking them what they had taken out payday loans for.

A total of 28% of respondents said that they had taken out loans for betting and gaming, coming behind payments for clothing, accessories or electronics, with urgent household maintenance the most widely stated reason for taking out a short-term loan.

The findings come at a critical juncture for Finland’s gambling sector, which is in the process of being reformed from a monopoly system to a multi-licence mass market model. The government launched legislation to parliament earlier this year with the goal of creating a multi-licence market in 2026.

Food for Finnish thought
The recent findings may lead to further debate a..

The Cabinet of Ministers of Ukraine has appointed Gennadiy Novikov as the Head of PlayCity, the newly established gambling authority of Ukraine.

Novikov’s appointment was confirmed to Ukrainian citizens via the government’s Telegram channel on 8 April.

The PlayCity agency was launched on 1 April with the mandate to “implement a new state policy in the field of organising and conducting gambling and lotteries.”

PlayCity will work under Deputy Prime Minister Mykhailo Fedorov to ensure that new laws protect Ukrainian gambling licences, consumers, and the regulatory regime from corruption.

In January, President Volodymyr Zelenskyy issued an executive order to liquidate KRAIL, Ukraine’s former state agency for gambling. KRAIL had come under scrutiny due to ongoing corruption cases, including allegations of money laundering and providing intelligence to associates of Russia.

Taking charge of PlayCity, Gennadiy Novikov previously served as Head Prosecutor at the National Agency for the P..

Brazil’s ministers and senators have been warned of a ‘clear gap’ in dedicated facilities needed to treat gambling addiction and the mental health disorders associated with gambling.

The warning came from Dr Antônio Geraldo da Silva, the leading psychiatrist of the Brazilian Association of Psychiatry (ABP), in his testimony to the Commission of Inquiry on Online Gambling (CPI of Bets).

Led by Senator Soraya Thronicke (Podemos-MS), the inquiry continues its evaluation of the economic threats and financial liabilities of Brazil’s nascent online gambling market – launched on 1 January under the framework of the Bets Regime.

Beginning his testimony, Dr Silva stated that he would provide his evidence as a “medical doctor specialising in psychiatry for 38 years,” in which he believes that there are 20 factors that “must be recognised in the treatment of gambling disorders”.

In the context of Brazil, socio complexities of treating gambling addiction and mental health disorders arise from..