⛔️ In Montenegro🇲🇪 electronic payments to deposit funds into gaming accounts have been banned

⛔️ In Montenegro🇲🇪 electronic payments to deposit funds into gaming accounts have been banned

The amendment to Article 68f of the Montenegro Gambling Law will disable a variety of electronic and mobile banking payment methods.

➡️ previously, deposits could be made at newsstands, but now this is also banned.

➡️ Currently, Montenegrin players have only two options: a) Pay in cash directly at the betting shop, which will then transfer the funds online to their accounts. b) Pay with a card, but only through a terminal at the same betting shop.

➡️ In addition, the issue extends to a social plane: according to Jovana Klisić, representative of the trade association Montenegro Bet, almost 2% of the country's workforce is directly or indirectly employed in the industry, and the unemployment rate stands at 15%.

➡️ Industry representatives managed to collect 25,000 signatures against the amendment in just 5 days; this represents 8% of the country's electorate.

➡️ Klišić believes that the amendment contradicts the Payment Services Directive, which aims to establish an integrated market of electronic payments. Additionally, the changes conflict with the EU AML 4 and Directive 5, which classify cash transactions as high risk.

➡️ Another aspect to consider is that the measures taken by the Montenegrin authorities may impede the implementation of standardized electronic identification methods for the entire EU. Such a system would allow citizens to verify their identity for online services, including gambling. This could raise questions for the FATF (Financial Action Task Force).

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