Ukraine to Implement New System for Monitoring Financial Transactions Linked to Gambling Activities
In the heart of Europe, Ukraine is grappling with an issue that's far from its borders – illegal gambling activities with potential ties to Russia. A recent development sees PlayCity, a local company, collaborating closely with the State Bureau of Investigation (SBI) to dismantle gambling websites suspected of funding Russia's war efforts.
The SBI's focus is on targeting bad actors in the Business-to-Business (B2B) suppliers and operators. These illicit platforms, some linked to Russia, are proliferating across the Ukrainian cyber landscape.
PlayCity, tasked with shutting down illegal gambling websites, is also working hand-in-hand with the Ukrainian law enforcement agencies. These agencies, along with the National Bank of Ukraine, are involved in regulatory oversight over gambling in Ukraine.
A proposed measure aims to ban gambling advertisements in Ukraine. While this move could potentially drive more people into the offshore sector, the impact on this sector remains unclear. No information regarding the offshore sector's response to the ban has been provided as of yet.
The SBI, with its keen interest in gambling websites funding Russia's war against Ukraine, is determined to ensure the safety and sovereignty of Ukraine. Spending on gambling daily by Ukrainian citizens could reach €8m, making it crucial to address this issue decisively.
As the battle against illegal gambling continues, it's clear that the collaboration between PlayCity, the SBI, and other Ukrainian law enforcement agencies is a significant step towards maintaining a secure and honest gambling environment in Ukraine.
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