Endorsed by Gambling911

Netherlands Banks Reject Call to Police Online Gambling Transactions

Written by:

C Costigan

Published on:

Nov/21/2008

The Netherlands Bankers Association (NVB) this week rejected the idea that they would be able to police transactions used for the purpose of online gambling. The NVB told Justice Minister Hirsch Ballin that his plan to use Dutch financial institutions to police online poker and Internet gambling sites is neither practical nor legal.

Minister Ballin had told the Dutch Senate that he would stop the hundreds of millions of Euros leaving the country to foreign internet gaming operators, with the help of the Dutch financial system.

"The Minister wants us to become an extension of the Justice system, but that is not the role of the banks," quoted NVB spokesperson Michel Noordermeer in a Gaming Intelligence Group article.

The European Commission has warned its nations to comply with rules that allow for online gambling. As such, the NVB has said it would be more willing to cooperate if the Justice Minister first puts online gambling operators on trial in the Netherlands.

Commenting on this position, Noordermeer stated that "We do not see such a thing happening under the Betting and Gaming Act, especially in light of European legislation. Under these circumstances, the banks will not refuse to accept gaming companies as customers."

A Ministry spokesperson dismissed the NVB's comments saying: "Justice bases itself on Dutch law in fighting illegal internet gaming and there is no room for free choice on the side of the banks. European law has no influence on this."

It is the Netherlands Antilles that has long played a significant role in the online gambling sector since its birth. Curacao was once home to a quarter of the Internet gambling firms, many of which have since moved to Costa Rica or were merged with other companies. VIP Sports and Pinnacle Sports remain to of the Netherlands Antilles largest and most profitable sports betting businesses. Banks based in Curacao were once more active in the industry.

Christopher Costigan, Gambling911.com Publisher

Gambling News

Chip Grabbing Felon Latest to Make the Infamous Vegas Black Book

Neal Ahmed Hearne is the latest name to be entered into the book.

NFL Reinstates Players Who Violated Gambling Policy

Quintez Cephus, C.J. Moore, Demetrius Taylor, Rashod Berry and Shaka Toney can now play once again though only one of the five is under contract with an NFL team.

Did ’Ndrangheta Mafia Infiltrate Canadian Banks?

‘Ndrangheta mafia’s infiltration into the lucrative Malta i-gambling industry was revealed over the last year.

Exploring the Best Online Casinos in Australia

Explore the world of internet gambling with the help of a well chosen guide written by gaming enthusiasts. This in-depth investigation examines the best Aussie gamers can play at online casinos, all of which have been screened for game selection, security, customer support, and special offers.

The Excitement of Sports Betting and Casino Gaming

The thrill of a close game and the intense excitement of waiting for the final play to unfold—sports betting adds a layer of anticipation to watching sports that countless fans find irresistible. Similarly, the allure of casino gaming, with its mix of chance, strategy and the potential for big wins, such as in the new game aviator, attracts players from all walks of life. These pastimes offer a diverse form of entertainment rich in excitement, skill and the thrill of the unknown, captivating a global audience.