Compliance Committee

🎉 Exciting News! 🎉 We’re thrilled to announce that our client Atom Technology has successfully obtained their Anjouan gambling license, marking another Anjouan License obtained for our clients! 🏆 At ComplianceCommittee, we have been proud to support them through every step of this journey—ensuring compliance, navigating regulatory hurdles, and delivering the legal expertise needed to make this achievement a reality. This license opens up new opportunities for Atom Technology to expand their business and serve their customers with greater confidence and security. We’re excited to see what’s next for them! Meet us at the Sigma conference to secure your Anjouan Gambling License! 🎲 #Gambling #RegulatoryCompliance #GamingIndustry #Anjouan

Glad to announce that we will be attending the Sigma conference in Malta on 11-14 November! Contact us on Linkedin or on info@compliancecommittee.com to book a meeting and get to know our services!

Australia credit card ban comes into effect The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 has significantly changed the regulations surrounding online gambling in Australia. Here's a summary of the key points: Credit Card Ban on Online Gambling: The bill prohibits the use of credit cards and similar products for nearly all online gambling activities. This new rule extends the existing ban on credit card use in land-based gambling to the online space. Exemptions: Lotteries and keno are exempt from this ban, allowing consumers to continue using credit cards for these games. Legislative Process and Approval: The bill was introduced in September 2023, passed by the house of representatives in November, and subsequently approved by the senate. Transition Period: A six-month transition period was implemented to allow licensed operators to adjust to the new regulations. This period has now concluded. Penalties for Non-Compliance: Operators who breach the new rules face fines of up to AU$234,750 (£121,809/€144,025/US$154,978). Enforcement and Oversight: The Australian Communications and Media Authority (ACMA) has been granted new powers to enforce these regulations and impose penalties for violations. According to Amanda Rishworth, the minister for social services, “Our government takes seriously our responsibility to prevent and reduce harm from online wagering. Our ban on credit cards will help with this goal. You can’t use your credit card to place a bet for land-based gambling. Now the same rules apply for online gambling.” https://lnkd.in/d_UFxhQm #compliance #gaming #ban #creditcard

Alberta to follow Ontario in regulating online gambling Dale Nally, Alberta’s minister of service and red tape reduction, spoke just weeks after Alberta’s legislature passed Bill 16 which simplifies the expansion of the province’s gambling sector. Nally confirmed that online betting and gambling will be expanded beyond the current Play Alberta monopoly, which is operated by Alberta Gaming Liquor and Cannabis (AGLC). Nally also stated: “It’s going to be very similar to Ontario. We’re following their model as they built the roadmap. We’ll massage it a little bit, but it’s been inspired by the experience in Ontario. It’s going to be an open and free market.” #canada #onlinegambling #alberta #aglc #compliance Visit: https://lnkd.in/d_UFxhQm Get in touch: info@compliancecommittee.com

Brazil: countdown for online gambling nation wide legal framework PL 2,234/2022 was approved on 19 June. The bill – which has been under consideration since 2022 – now moves to the senate plenary for a further vote, having already been approved by Brazil’s chamber of deputies. The approved bill legalises casinos, bingo, jogo de bicho and betting on horseracing in Brazil. Looking at tax, the bill proposes that two new types of tax will be created – the Gaming and Betting Inspection Fee (Tafija) and the Economic Intervention Contribution levied on the marketing of games and betting (Cide-Jogos). The total Tafija would add up to R$600,000 for casinos, R$300,000 for online gaming locations and R$20,000 for bingo halls, Jogo de Bicho operators and tourism companies. The Cide-Jogos tax rate will stand at 17% of gross revenue. Prizes over R$10,000 will be subject to 20% income tax. Visit: https://lnkd.in/d_UFxhQm Get in touch: info@compliancecommittee.com #onlinegambling #brazil #compliance #tax

Australia enacts ban on credit cards and Crypto for Online Gambling With the enactment of the Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 on June 11, 2024, Australians can no longer use credit cards for online betting. The legislation included a six-month adjustment period following its approval, granting operators and users time to adapt to the changes. As of June 11, 2024, this transitional phase has concluded, and the credit card ban for online gambling is officially in effect. Additionally, the new law extends the ban to cards associated with digital wallets and cryptocurrencies like Bitcoin. #onlinegambling #australia #compliance #casino Visit: https://lnkd.in/d_UFxhQm Email: info@compliancecommittee.com

KSA – Increase in Regulatory Enforcement During the first two weeks of this June, the Netherlands Gambling Authority (KSA) reported the collection of fines amounting to around €294,000 from LCS Limited and Blue High House SA. This action was taken after it was determined that both companies continued to provide unauthorized games of chance to players in the Netherlands. LCS Limited and Blue High House SA had previously been issued warnings in 2022 and 2023, respectively, for their illegal gambling activities targeting Dutch players. These warnings came with directives to halt their unlawful operations, accompanied by financial penalties for non-compliance: LCS Limited faced a potential fine of up to €165,000, while Blue High House SA was at risk of a penalty up to €129,000. Visit: https://lnkd.in/d_UFxhQm Email: info@compliancecommitee.com #compliance #KSA #NL #Netherlands #onlinegambling

Offshore Shakeup: Curaçao's Licensing Reforms Curaçao is reforming its problematic master licensing system, prompting some gambling operators to seek alternatives. With a shift to a more transparent and rigorous compliance framework, several jurisdictions, such as Anjouan, East Timor, Tobique, Kahnawake, the Philippines, and the Isle of Man, are positioning themselves as new hubs for online gambling operators. Key Points: - **Curaçao's New Framework**: The country plans to end its opaque master-sub-licensee arrangements, opening applications for new licenses under a stricter compliance system. - **Alternative Jurisdictions**: Regions like Anjouan, East Timor, and Tobique offer attractive propositions with lighter regulations, quick licensing processes, and low taxes. - **Industry Reactions**: Consultants highlight the uncertainty and potential costs associated with Curaçao's new requirements, pushing operators to seek jurisdictions with more lenient regulatory environments. - **Challenges of Current System**: Curaçao's existing system has led to numerous blacklisted websites and unpaid fines, especially in Europe and Australia. The reputation of Curaçao licenses has declined due to inadequate compliance with international standards. - **Future Prospects**: The gambling industry is trending towards stricter regulations, with more operators considering tier-one licenses from reputable jurisdictions like Gibraltar, Isle of Man, Malta, and Alderney. These regions emphasize robust anti-money laundering and due diligence measures. Alternative Licensing Jurisdictions: - **Tobique**: Promoted for its zero corporate and income tax, with quick licensing promised. - **Anjouan**: Offers a fast, streamlined licensing process, leveraging tools for rigorous applicant vetting. - **Kahnawake**: An established player since 1999, continuing to issue licenses without participating in promotional pitches. Market Dynamics: - **Shifting Regulations**: As Europe and the US embrace stricter online gambling regulations, the industry is moving away from unregulated markets to jurisdiction-specific licensing. - **Reputation and Risk**: Suppliers and operators are increasingly cautious, opting for jurisdictions that ensure compliance and reduce operational risks. Payment services integrating gambling and cryptocurrency face heightened scrutiny. - **Criticism of Light-Touch Jurisdictions**: Organizations like the Asian Racing Federation criticize under-regulated markets for contributing to illegal betting activities. In summary, Curaçao's regulatory overhaul is pushing operators to explore other jurisdictions, each with varying degrees of regulation and compliance standards. As the online gambling industry gravitates towards stricter oversight, the long-term viability of operating in lightly regulated environments remains uncertain. Visit https://lnkd.in/dTeH9NaE or contact us at info@compliancecommittee.com to secure your new Gambling License

🎲 Why are so many new operators getting licensed in Anjouan? 🎲 The Anjouan online gaming license has gained significant attention, particularly with uncertainties surrounding Curaçao’s online gaming licensing regime. Anjouan is becoming one of the most popular licensing authorities in the iGaming industry due to several key factors: 1. Broad Capabilities: The Anjouan license covers all forms of gaming, allowing operators to secure a single license for various gaming products such as online casino games, sports betting, and poker. This versatility provides operators the flexibility to tailor special offers to their target audience. 2. Openness to Cryptocurrency: Anjouan accepts license applications from crypto casinos, making it attractive to operators who want to integrate blockchain technology and cater to players using cryptocurrencies like Bitcoin, Litecoin, Dogecoin, Ether, Tether, and Trx Coin. 3. Tax Benefits: Anjouan imposes no gambling tax; the only financial obligation for online gambling companies is the annual license renewal fee. This affordability makes compliance more accessible for iGaming operators compared to some other jurisdictions with higher tax rates. 4. Opportunities in Emerging Markets: Anjouan authorities allow licensees to accept players from various markets, with exceptions for certain countries. This flexibility enables licensees to use Anjouan as a base for global operations, provided they adhere to specific market regulations. 5. Dedication to Responsible Gaming: Anjouan prioritizes responsible gaming practices, aligning with changing player expectations. License requirements include providing players with information on counseling or support services, emphasizing operators' commitment to preventing problem gambling. The application process for an Anjouan license is characterized as simple, requiring a detailed business plan, absence of criminal records for key personnel, proof of domain ownership and a compliant website, compliance with anti-money laundering (AML) policies, responsible gaming and underage gaming policies, testing and certification for RNG of in-house developed games, and servers located in Anjouan. Entrepreneurs interested in the iGaming industry are encouraged to act swiftly, as the licensing process is quick, taking only a few weeks, and the license is valid for one year, renewable annually. Compliance Committee offers licensing assistance, managing all necessary paperwork for applicants to ensure a smooth process. Benefits - 0️⃣% Gaming Tax on Gross Gaming Revenue (GGR) - 0️⃣% Value Added Tax (VAT) on total revenue - Fastest License Application in the world - 3 weeks  - License can be obtained from a company located almost anywhere in the world- Access to Global Gambling Markets - Proximity with African Markets - Reputable Jurisdiction - Ideal Jurisdiction for Startups thanks to their small bureaucracy Want to apply for an Anjouan License? Visit https://lnkd.in/dCdR8nXj

Looking for an alternative to Curacao? Starting an online gambling business requires selecting a suitable licensing jurisdiction, and the Kahnawake gaming license is a compelling choice. Renowned for its flexibility, cost-effectiveness, and straightforward setup, Kahnawake is a preferred option for startups. Situated in Quebec, Canada, the Kahnawake Mohawk Territory has been autonomously licensing online gambling since 1999 and currently supports over 250 licensed gaming sites. The Kahnawake gaming license's quick, simple, and economical licensing process makes it an appealing option for online gambling startups and small businesses focused on growth and sustainability. Have a look at our complete guide to obtain a gambling license in Kahnawake https://wix.to/YQVJaXP Want to know more? Visit https://lnkd.in/dTeH9NaE or email us at info@compliancecommittee.com #Kahnawake