The Government of Gibraltar has approved a new law that will enable the creation of a statutory and regulatory framework for internet gambling.
The Gibraltar Ministry of Trade and Industry will introduce and control the new Licensing Authority, while the Gibraltar Regulatory Authority is to act as the Gambling Commissioner.
The Gibraltar House of Assembly passed the new law this week stating computer equipment used for gambling must be kept in premises which are “secure and free from access by unauthorized persons”.
Under the new law, a gambling website must display the full name and address of the licence holder and avoid any “false, deceptive or misleading” advertising.
Under the heading “Responsible gambling”, Gibraltar-licensed gambling websites will be required to contain a direct link to an organization dedicated to assisting problem gamblers and have “a named person responsible for formulating responsible gambling policies”.
In order to prevent money laundering, licence holders will be required to inform the Gambling Commissioner of any suspicion of money laundering activity within 24 hours.
The Gibraltar Government said the new regulation will provide a modern legislative framework for Gibraltar's gambling industry. "This will ensure that Gibraltar remains the world's foremost reputable jurisdiction for virtual and online gambling," a spokesman said.
sorce: egr magazine
