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German association calls for more control over online casino payments

In addition, BaFin does not take any significant steps to prevent payment companies from providing services to virtual casinos, according to the association that conducts campaigns against financial crimes. Despite all the current regulations currently in place in the country, even when it breaks the law, it does not interfere with the operation of such companies.

The association argues that federal financial regulators should take a more serious stance on its function. Payment solution providers have already developed the ability to block transactions in international casinos. That means BaFin should not invent anything new and can use established services to fight illegal gambling. 슬롯머신

Michael Findyson, former head of the federal finance department’s money laundering department, noted that BaFin follows Malta’s example by being inactive. But as the island’s experience shows, it’s not the best model to use. Criminals benefit from the country’s low gambling taxes and licensing prices. That leads to a lot of problems with financial crime in finance.

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