We have recently received indications that payment service providers engage in payment services to (foreign) online gambling operators.
Supervised institutions must prevent being associated with or providing services to customers that may harm their reputation pursuant to the rules on sound and ethical operational management. We consider firms that offer online gambling to Dutch consumers to be relationships that could seriously harm a financial institution's reputation. It is currently still illegal to provide online gambling services to Dutch consumers. Financial institutions must also prevent damage to their reputation caused by providing payment services to (foreign) online gambling providers that offer games of chance to consumers in other European countries. This only applies, of course, if those firms do not hold a licence or permission to provide games of chance to such consumers.
The new Remote Gambling Act (Wet Kansspelen op afstand) is due to enter into effect on 1 January 2021. Within this context, we will discuss with the Netherlands Gambling Authority (Ksa) how to tackle unauthorised payment service provision to online gambling operators. We also devote heightened attention to such undesirable types of payment services as part of our examinations.