The Norwegian Ministry of Finance has given its support to an offer from Lotteritilsynet, the state lottery authority, to release lottery and bingo organizers from new anti-money laundering regulations.
The proposal will undergo a consultation period until October 1, would reduce regulatory burdens on approximately 350 teams, associations and organisations that do not depend on on third-party contractors for their bingo or lottery offerings to be exempt from the country’s new money-laundering regulations.
As charted by Norway’s gambling regulator, when the new rules were presented last October, they prolonged the scope of operational restrictions to anyone offering games licensed under the Gambling, Lottery and Totalisator Act. However, in accompanying the new regulations, organizations were asked to apply for exemptions.
The Lotteritilsynet delivered a final danger assessment on May 29 to the Ministry of Finance, outlining the perceived low risk of money laundering and terrorist financing via bingo associations and so-called ‘Section 6’, or charitable, lotteries.
In confirming the submission of the proposal, Finance Minister Siv Jensen said it is important not to “impose disproportionate burdens.”
Further he added:
“I am pleased that with a solid risk assessment from the Lottery Authority, so we can propose how to simplify [the regulations] for teams and associations around the country.”
Minister of Culture Skei Grande added that the exemptions would cut red tape in the voluntary sector.