Ahead of its regulated gambling market launching on 1 July 2027, Finland has authourised a new regulatory body to oversee all gaming operations in the country as well as maintain “far broader powers” than its predecessor, the National Police Board.
The recently introduced body will operate under the Lupa- ja valvontavirasto (Permit and Supervision Agency) and has been tasked with a “clear mandate” of ensuring a safe gambling market and “ruthlessly eliminating” illegal operators.
While Finland’s former regulatory agency relied greater on criminal action than administrative power, the new organization will be authorised to issue penalty fees to operators in violation of licence conditions, marketing rules or safety protocols, and to revoke licenses if repeat offenses occur.
Licence revocation can also be ordered if the operator fails to pay supervision fees or for “serious breaches” of player safety regulations. A primary focus of the new agency will also be strict mandates for player identification and know-your-customer verification.
The agency is also set to maintain authorisation for ordering the removal of illegal online content and domain names of non-compliant sites to restrict consumer access to the platforms.
"The new agency isn't just an administrator; it is a policeman with the power to fine, block and shut down. For operators, this means that compliance technology - specifically regarding player ID and money laundering - is no longer just an operational detail, but a license-critical necessity,” Bonusetu CEO Tommi Korhonen said.
Bonusetu works as a market intelligence platform for Nordic iGaming, analysing regulatory frameworks, software integrity and payment technologies to provide the Finnish market with reliable gaming data.
Finland’s new regulatory body will be funded directly by gambling operations, including payments for annual supervision fees which are tiered based on respective gross gaming revenues.
Following recently submitted changes to Finland's new Gambling Bill from opposition parties in the nation on 15 December, the bill is expected to progress through parliament with few alterations
