New gambling regulator in Finland gets broad powers

• Starting from July 1, 2027, Finland will enforce new rules affecting the gambling vertical
• A new gambling watchdog, called the Permit and Supervision Agency, will supervise the gambling sector
• The agency will be permitted to impose fines, revoke licenses and combat illegal gambling by blocking access to such platforms and removing promotional content

Finland is preparing the launch of its new gambling regulatory body at a time when major changes are coming to the sector.

New market rules are going to launch on July 1, 2027, significantly strengthening the legal sector and planning to eradicate issues such as illegal and underage gambling.

Permit and Supervision Agency will take control over gambling regulation

Notably, the supervision of licensed gambling will be handed to a newly founded Permit and Supervision Agency.

This effectively will shift the authority from the National Police Board to the Permit and Supervision Agency.

At the same time, the Agency will leverage far-reaching powers over the sector in Finland.

This will enable it to effectively and swiftly combat potential illegal gambling threats and safeguard the legal vertical.

An important aspect of the new rules will be the focus on stricter Know Your Customer (KYC) policies to prevent known issues such as underage gambling and money laundering.

Equally as important, the Agency will be tasked with powers permitting it to take down illegal gambling content.

This includes the prevention of accessing unlicensed gambling websites, as well as the removal of advertising and other content that promotes black market operators.

One of the most important changes to the gambling sector involves the newly founded Agency's powers to enforce sanctions and revoke licenses.

Ultimately, the new regulatory body will be authorized to issue monetary sanctions swiftly in cases related to breaches of license conditions, player safety rules, marketing regulations and other offenses.

In severe cases, including repeated offenses, the Permit and Supervision Agency will have the authority to revoke gambling licenses.

Image credit: Pixabay.com