Dutch gaming and banking authorities collaborate

Dutch central bank, De Nederlandsche Bank ,and gaming authority Kansspelautoriteit will cooperate on issues concerning the financial supervision, money laundering, financing terrorism and sanctions acts through a formal agreement signed this week.

The two entities have agreed to exchange confidential information and will advise and authorise in collaboration prior to launching any enforcement action.

In related news, Kansspelautoriteit released a comprehensive advertising guidance this week, one which bans online gambling advertising.

In general terms the advertising guidance says consumer advertising must lead to a legal offer, however, operators may not actively promote participation in gambling and given that online gambling is currently illegal, no advertising may take place.

This extends to “touting of online gambling companies in press releases related to sponsorship deals”.

Furthermore, public advertising that generates a favourable impression of a “particular online gaming business” is not permitted, the guidance reads.

Kansspelautoriteit will enforce the guidance with sanctions and, as it has shown in the past, it will not hesitate to take action.