The chairman of the Committee on Public Finance Harsha de Silva told Parliament that regulatory gaps and offshore operators are allowing illegal igaming to expand.
Sri Lanka.- Harsha de Silva, chairman of the Committee on Public Finance (COPF), is the latest lawmaker to warn about the growth of illegal online gambling operations in Sri Lanka. He told Parliament a rapid growth of igaming, particularly among younger users, had been facilitated by the absence of a dedicated regulatory framework and by the prevalence of overseas operators.
De Silva said more than 40 payment channels were in use to fund igaming activity and that existing casino legislation is not suited to supervising online platforms. He added that the COPF had yet to receive satisfactory responses from the Central Bank to a series of questions submitted on the issue earlier this year.
The MP said the head of the Gaming Regulatory Commission had previously indicated that new igaming regulations could be implemented by November but that the measures have not yet been finalised. He also called for the prompt adoption of pending anti-money laundering and counter-terrorist financing bills, arguing that additional safeguards are needed to prevent unlicensed operators from exploiting gaps in the legal framework.
The chairman of the Committee on Public Finance Harsha de Silva told Parliament that regulatory gaps and offshore operators are allowing illegal igaming to expand. Sri Lanka.- Harsha de Silva, chairman of the Committee on Public Finance (COPF), is the latest lawmaker to warn about the growth of illegal online gambling operations in Sri Lanka….
