Payments as gatekeepers: How do you regulate gambling anyway?
As regulators sharpen their focus on illegal gambling, payment providers are increasingly being drawn into the enforcement net. But how far should their responsibility go – and where should the line be drawn between financial infrastructure and regulatory oversight? Jack Found explores...
The breakdown...
• Should the financial sector do more to combat illegal gambling?
• Payment providers are increasingly being drawn into regulatory efforts to combat illegal gambling
• As financial intermediaries, they sit at a critical junction between players and operators
• How far their responsibility should extend remains an open and highly contested question
• The European Commission has previously noted that payment blocking alone is unlikely to fully eliminate illegal gambling, but can be effective when combined with measures such as domain blocking
As regulators intensify efforts to curb illegal online gambling, attention is increasingly turning toward an often underexamined part of the ecosystem: payment providers. Banks, e-wallets and payment processors sit at a critical junction between player and operator, prompting a growing question for the industry – should they play a more active role in tackling unlicensed gambling?
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