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Compliance Updates

Fees and Collection Policy from Curacao GCB

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Introduction

Effective immediately this document outlines the fees and collection terms pertaining to a gaming licence issued and operated by the Curacao Gaming Control Board (the “GCB”) under the NOOGH legislation.

The GCB reserves the right to amend this policy at any time.

Fees

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License fee

Non-refundable NAF 36,000 on license grant and annually on each anniversary thereafter Monthly fee of NAF 7,000 plus any “per-domain” fee that is applicable.

Certificate of Operations: Orange Digital Seal

The sub-licensee authorized to display the temporary Orange Digital Seal must pay a non-refundable fee of NAF 28,000. For operators who use the Orange Digital Seal, this payment will be deducted from the license fee invoice issued upon approval by the GCB,

General Info

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  • In the event that an operator wishes to pay the full license fee annually in advance, the GCB will accommodate this.
  • Fees are due for any licensed operator regardless of any ongoing private commercial agreement that the entity may have with a Master License holder. For the avoidance of doubt having an active sub-license at the time of being issued a direct license by the GCB does not exempt the operator from its financial obligations to the GCB,.
  • Fees will be invoiced in EUR, using the exchange rate published by the Curacao Central Bank on the date of the invoice.
  • Fees can be paid in EUR or USDT stablecoin.

License Issuance

  • Once a license is approved, notice will be provided to the local director of the applicant entity. Notice shall be issued in the form of letter sent by email to the official email address registered on the GCB Portal.
  • Notice of license approval shall be accompanied by an “Initial Invoice of NAF 36,000, which is payable in full prior to formal granting of license, along with the first “Monthly Invoice” which is payable subject to the terms in the section below entitled Monthly Fee.
  • The license will be formally granted and added to the license register on the GCB site upon receipt of payment of the Initial Invoice
  • Operators are not permitted to use the Green Digital Seal on their domains prior to the on formal license grant.
  • Under Curacao legislation stamp duty is payable in the amount of NAF 60, in local currency. is The local bank account is provided to the local director in the approval email.
  • Hard copy license issued by GCB to the local director on payment of the stamp duty at the GCB registered office.
  • Soft copy license of the license can be downloaded from the GCB portal.

Invoicing and Collection

Initial Invoice

1. Payable in full within 5 calendar days.

2. In the event that it is not paid within 5 calendar days, the local director will be contacted by GCB Finance Department with notice that non-payment after further 5 calendar days will result in the formal rejection of the application.

3. Rejection for non-payment of Initial Invoice will be processed on the GCB licensee portal, published on the GCB website.

The post Fees and Collection Policy from Curacao GCB appeared first on European Gaming Industry News.

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Compliance Updates

Compliance Managers of Merkur Group Attends Two-day Workshop at Schloss Benkhausen

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Compliance managers of the Merkur Group attended a two-day workshop at Schloss Benkhausen, the company’s own training centre at its headquarters in Espelkamp. The aim was to global compliance challenges together, develop successful strategies and promote company-wide exchange. The participants came from 13 countries.

“Regulatory requirements are increasing from year to year. It is therefore all the more important that we are in constant dialog within the company and benefit from the perspectives and experiences of others,” said Ludwig Beckmann, Chief Compliance Officer of the Merkur Group.

An important topic at the event was the presentation of the Group’s newly created central risk management system. The focus is on optimizing existing systems and developing a holistic risk management system that integrates the areas of “Legal”, “Audit” and “Business Operations”, among others. Subsequently, the careful examination of customers (know-your-customer checks) and business partners (due diligence checks) in the individual companies was discussed in working groups.

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In order to improve the legal overview, the concept of a Group-wide central register documenting all relevant legal disputes of the Merkur Group was explained. This can be helpful in responding more accurately to official requirements in licensing procedures. While the UK compliance team then presented the UK Gaming Authority’s draft legislation with a view to the regulatory peculiarities, another topic of discussion was how the reporting procedure for breaches of the compliance principle could be made even more effective.

“The measures and strategic guidelines developed form a solid basis for the continuous development of the company’s global compliance culture,” Ludwig Beckmann added.

The compliance managers from the UK, Malta, Spain, the Czech Republic, Austria, Germany, Denmark, Croatia, Belgium, Australia, Colombia and Peru came to East Westphalia for the meeting.

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Compliance Updates

BetComply hires former Microgaming and Yggdrasil manager to lead accounts

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BetComply, iGaming’s most trusted technical and regulatory compliance firm, has appointed Iliana Lazarova as its first ever Head of Account Management.

Lazarova brings with her more than 15 years of experience in the online gaming sector, including senior account management roles at Markor Technology, Microgaming and Yggdrasil.

She joins at a time of rapid expansion for BetComply, as the company grows its team to more than 20 members to support a fast-growing roster of clients.

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Daniel Brookes, CEO of BetComply said: “BetComply is now providing compliance support to many of the biggest names in our industry. Iliana’s deep experience makes her the perfect fit to ensure we’re delivering exceptional service to our partners at every step. She’s another superstar addition to our already world-class team.”

Iliana Lazarova, Head of Account Management at BetComply, added: “BetComply has built an incredible reputation for trusted, expert compliance, and I’m thrilled to be joining at such an exciting time. My focus will be on strengthening partnerships and ensuring every client feels fully supported as they continue to navigate regulatory change.”

Lazarova is just the latest senior hire at BetComply. In March, the firm appointed former Entain executive Jez White in a new role overseeing safer gambling and sustainability.

The post BetComply hires former Microgaming and Yggdrasil manager to lead accounts appeared first on European Gaming Industry News.

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Compliance Updates

EGBA Presses for Implementation of National Self-Exclusion Measures in Romania

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Maarten Haijer, Secretary General of EGBA, recently spoke with Antena 3, one of Romania’s leading news channels about safer gambling in Romania.

In the interview, Maarten outlined our recommendation that Romania establishes a national self-exclusion register for gambling—a crucial player protection measure already implemented in 17 EU member states. The interview was conducted at a recent event held at the Romanian Parliament organised by the Romanian online gambling association (AOJND).

EGBA’s recommendations for Romania

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At that meeting, EGBA underlined its recommendation that Romania introduces a comprehensive gambling self-exclusion framework, and recommended that the system should:

  • Apply to all licensees (land-based and online gambling operators).
  • Be accessible through a user-friendly, GDPR-compliant, government website.
  • Be clearly communicated and made accessible via gambling platforms.
  • Apply in real-time and be fail proof.
  • Have clear minimum and maximum time periods for the self-exclusion duration.
  • Ensure registered players receive information on where to seek support.
  • Require operators to remove self-excluded players from marketing databases.

Establishing a self-exclusion framework based on these European best practices would provide a crucial safety net for Romanian players.

 

Source: EGBA

The post EGBA Presses for Implementation of National Self-Exclusion Measures in Romania appeared first on European Gaming Industry News.

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