The State Duma is tightening control over gambling entertainment
At a meeting on July 7, 2020, State Duma deputies adopted amendments that provide for stricter control over beneficiaries, organizers and participants in lotteries and gambling, including sports betting and sweepstakes. Recall that the update of the document was initiated by the Government of the Russian Federation.
The updated law contains many new things. In particular, persons with an outstanding or unexpunged conviction for economic crimes are no longer allowed to organize lotteries and other gambling entertainment. In addition, such citizens are prohibited from joining executive bodies established by organizers of lotteries and gambling.
Naturally, these are not all the restrictions. For example, legal entities that fall under the jurisdiction of states that do not provide for disclosure of information when conducting transactions will also not be able to act as lottery organizers, bookmaker operators, etc. A list of the countries in question is attached to the adopted document.
According to the new law, all organizers and operators of lotteries and gambling are required to provide authorized state organizations with information about legal entities and individuals, beneficial owners, etc., who are the owners, founders and operators of these lotteries, bookmakers, etc. In addition, they will have to report all information about third parties who directly or indirectly influence the gaming process.
The law was updated in accordance with the Concept of Development of the System Combating Legalization (Laundering) of Incomes Obtained by Criminal Means. The amendments come into force 90 days after their official publication. By the way, let us recall that just the other day the State Duma adopted a law on tightening control over financial transactions related to gambling. Analysts and experts have already concluded that the state is striving to obtain maximum benefit from gambling, which is practically in its infancy in the Russian Federation today.
