
The Indian government is considering regulatory measures for online gaming firms, potentially bringing them under anti-money laundering laws. The Ministry of Finance is preparing to include companies such as Dream11, Games24x7, and Winzo under the Prevention of Money Laundering Act (PMLA), which would require these firms to implement Know Your Customer (KYC) protocols and transaction monitoring. This move is part of a broader effort to enhance accountability and user safety in the online gambling sector, which has been criticized for lacking regulation and oversight. Additionally, discussions are ongoing in Karnataka regarding a legal framework to further regulate online gaming activities. Recent enforcement actions in Goa have also targeted various gambling activities, indicating a tightening stance on the industry.
Karnataka discusses legal framework to regulate online gaming @PriyankKharge https://t.co/XThpLH9aeA
In Goa’s crackdown on gambling, even ‘housie’ is not spared https://t.co/3KRo45xZcU
Centre working to bring Dream11, Winzo, online gaming firms under PMLA: Report https://t.co/2PlzhIAqNX