iGaming Business – Singapore has begun the process of regulating remote gambling in the sovereign city-state after a new bill was tabled in parliament yesterday (Monday).
Aimed at clamping down on the unregulated remote gambling industry, the Remote Gambling Bill will define activities that fall under its parameters and allow authorities to tackle such activities.
The bill will target all forms of remote gambling activity that take place in Singapore, regardless of where the bet is placed or where the remote gambling operator is actually located.
The bill also features a number of blocking measures, which will allow authorities to implement website access and payment blocking.
According to the ChannelnewsAsia.com website, the country’s Ministry of Home Affairs said websites that may be blocked include those that “provide, facilitate or advertise remote gambling”.
Financial institutions will also be instructed to block transfers to accounts linked to people involved with unlawful remote gambling.