INDIAN GAMING
Gateway to Gaming
The number one source for gaming news for India, Casino International’s latest partner is the excellent Gateway to Gaming
AIGF writes to Indian PM seeking action against offshore sites
Nepal Telecom Authority shuts down illegal online casinos
The Nepal Telecommunications Authority (NTA), the regulatory body for the telecommunications and technology sector in the Himalayan nation, has started taking action to control illegal online economic activities including offshore casinos. The NTA has shut down websites and apps including online virtual currency (cryptocurrency), Bitcoin, hyper networking and online gambling according to a press release. The authority has said that such online sites and apps are not allowed to be used, operated and managed in Nepal and have been blacklisted. The regulatory body has also urged the people to provide information regarding such online practices and apps through email and has warned of legal action if anyone is found involved in such practices. Similar to India, offshore betting sites flooded Nepal in recent times. The NTA has decided to shut down the
All India Gaming Federation (AIGF), the not-for-profit self-regulatory gaming industry body has written to Prime Minister Modi raising the issue of several illegal online gambling/ betting/trading websites operating in India through entities incorporated outside India. AIGF alleged that these websites are luring customers from India and claiming to be legally offering their services to residents of India. The self-regulatory body has written a similar
letter in 2018. In the fresh letter, AIGF said online gambling and betting websites are openly accepting payments from Indian customers in Indian rupees in violation of foreign exchange laws by either misleading payment providers under the garb of offering other goods or services or using bank accounts of dubious entities and individuals in India. Existing foreign exchange laws do not permit foreign currency transactions related to betting and gambling. The self-regulator also pointed out that these
entities do not pay GST which the offshore companies providing internet-based services are
26 MAY 2022
required to pay. AIGF pegged the GST loss at INR 10000 crore for past three years. AIGF requested the PMO to direct DGCI to
initiate investigation on tax evasion, the enforcement directorate to investigate on money laundering, and consumer protection authority to act on misleading advertisements. It further sought the PMO to direct state governments book cases under Indian Penal Code for cheating and fraud. Since the companies offering illegal betting
services are incorporated outside India, AIGF has requested the authorities to raise the issue at diplomatic levels to bring the culprit companies, their promoters and directors to Indian legal clutches. Most of these companies are incorporated and located in foreign countries such as United Kingdom, Malta, Curacao (Netherlands), UAE, South Africa, Costa Rica etc. Recently, in a similar case, the Nepal
Telecom Authority had shut several offshore betting and casino websites in the Himalayan country.
website and apps after finding that many Nepalis living in the country and abroad are involved in illegal transactions such as crypto, hyper-fund and networking. As Nepalis living abroad have increased their
investment in illegal networking businesses such as crypto and hyper-funds, the remittance inflow has been declining. This has resulted in the decline of flow of remittances in the country. The NTA has stated that transactions using
digital technologies such as virtual currency, networking marketing and online gambling, which are not legally recognized as monetary instruments in Nepal, are on the rise. The regulator has made it clear that it will help in controlling transactions including illegal cryptocurrency. Similarly, the Central Investigation Bureau
(CIB) of Nepal Police has arrested some persons involved in crypto business and has taken action against them. Earlier, in the case of illegal online gambling, the NTA has been assisting in various technical aspects including identifying and tracking such sites.
xtock/Adobe Stock
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56
