Italy Threatens €1.3m Payment Blocking Fines

Payment providers operating in Italy could be forced to block transactions with unlicensed gambling operators on pain of fines of up to €1.3m, according to a leaked draft law.

The decree, which has been seen by PaymentsCompliance’s sister publication GamblingCompliance, would introduce fines of between €300,000 and €1.3m ($1.43m) for financial institutions which process payments for gambling companies without an Italian licence but offering services to Italian residents.

Introduced to counter tax evasion and in the interests of making payment flows “more traceable”, the proposed measures would cover payments by credit card, banks, other financial services operators and the postal service.

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