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China Cracks Down on Online Casino Usage

Chinese lawmakers have promised a crackdown on online casino operators following news that over $5 billion U.S. dollars were spent on gambling activities last year. Beijing has promised to use telecommunications networks and financial institutions in an attempt to curb casino gambling in China. The initiative will be managed via the National Coordinating Office to Strike at Illegal Gambling, which will work in tandem with a new judicial expertise center researching transaction records to online casino firms.

Lawmakers hope that the new approach will discourage online casino companies from advertising their services to Chinese casino fans. The legislation is also intended to make it easier to detect casino firms online and to arrest illegal operators by giving the country’s police force heightened powers in order to protect the loss of information stored on individuals’ computers and servers. This is kind of redundant, considering that China is already a one-party police state.

Further legislation is proposed in an attempt to reduce the number of cases involving light punishment for online casino gambling-related offenses. Gambling is deemed illegal under Article 303 of the Criminal Law of the People’s Republic of China. Under the law, individuals accused of operating gambling businesses and establishing casino companies face up to three years imprisonment and can be subjected to hefty fines.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.