Bulgaria Bans 50 New Illegal Gambling Operators
Bulgaria's online gambling blacklist has grown by 52 operators as part of the National Revenue Agency (NRA) 's latest enforcement efforts.
The banned sites were illegally targeting Bulgarian users without a valid license.
LISTEN TO THIS ARTICLE:The websites were banned following a thorough probe by the national gambling regulator's Electronic Audit of Systems of Gambling Operators (EASGO) branch, which found that the implicated sites were illegally targeting Bulgarian users without a valid license.
Investigations showed that the illegal gaming sites, using Armenian (.am) and Kazakhstani (.kz) domains, lured customers with advertising banners and text, inviting them to open accounts and engage in unlawful gaming activities with easy deposits and withdrawal options.
I order for the provision of online games on the following websites operating without a license under Bulgarian law to be suspended within three days of this decision.
If these websites continue to operate past the deadline, the NRA will file a formal complaint with the Bulgarian High Court against them and order all internet service providers nationwide to restrict access to them.
Bulgaria’s War on Illegal Gaming
Under Director General Roumen Spetsov's leadership, Bulgaria's NRA has made remarkable strides in combating illegal online gaming. Since the beginning of the year, 2,500 unauthorized websites have been blocked. Illegal gaming reports also quadrupled, rising from 150 in September 2023 to 600 in January 2024.
The NRA has also enhanced its AML capabilities by establishing a specialized unit last year to provide an additional layer of protection against money laundering.
Furthermore, there have been proactive partnerships between gambling stakeholders, the NRA, and government bodies to push back illegal operators.
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New Hope for Bulgaria's Financial Reputation
The responsible gaming and anti-money laundering initiatives being implemented in Bulgaria are crucial, as its presence on the Financial Action Task Force (FATF) greylist indicates that the country still poses significant risks to the international financial system, particularly via its gambling sector.
However, FATF has introduced new evaluation criteria for its greylist, which may change Bulgaria's status.
Under the new rules, the list will only feature nations classified as "least developed" by the United Nations. Since Bulgaria doesn't fall under this category, it's likely to be removed from the grey list when the new rules are implemented during the next assessment.
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