written and last updated by
Sam Smith at
26 Jan 2022
Journalist, Editorial Department
On January 26, the State Duma passed a law imposing liability on banks and other payment operators for transactions benefiting illegal casinos. Both individuals and legal entities will be held accountable under this legislation.
The bill clarifies that violations of the regulations governing the gambling industry and the activities of foreign companies operating within the country will now incur financial penalties. In addition to prohibiting payments, the document outlines further requirements. Payment operators are now forbidden from entering into contracts with unregistered gambling establishments and must take action to terminate any existing agreements with such entities.
If any instances of these transactions are discovered, officials will face fines ranging from 100,000 to 500,000 rubles. Credit institutions will incur penalties of the same amount. Legal entities found in similar situations will be fined between 25% and 40% of the transaction amount, with a minimum payment set at 5 million rubles.
The Federal Tax Service is responsible for monitoring operators of gambling businesses that operate without regulatory approval. Illegal online casinos and lotteries are also included in the Federal Tax Service's oversight. The activities of these organizations have been banned in the country, and payments to them have been prohibited since 2018. Nevertheless, many operators continued to facilitate transactions for illegal gambling organizers. Starting today, each of these payments will result in a fine.
Additionally, the law allows the Federal Tax Service to initiate the blocking of online platforms that conduct prohibited transactions without a court order. This applies to any payment operator that processes funds for illegal casinos and lottery organizations.
It is worth noting that in 2021, Ukraine's gambling regulator issued over four thousand licenses.
