Cyprus To Go After Gambling Companies

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The government of Cyprus is set to go after online gambling companies as well as players according to a report in the Cyprus Mail newspaper earlier this week.

Reportedly, a new law being discussed by the government will see gambling organizations that violate the country's laws slapped with 10 years in prison and fines up to €500,000.

The law would also make players susceptible to penalty if caught taking part in illegal gambling, with penalties of up to 5 years in prison and €170,000 in fines. The small island country previously tried to ban online gambling and ran into trouble with the European Union as it said the law was non-compliant with EU laws.

The report states: "The main target of the law is online casino gambling, which has proliferated of late, generating millions in income for the providers."

Cyprus MP Ionas Nicolau also spoke the the newspaper about the proposed legislation saying: “There will be a continuous war to locate these webpages that will be placed on a register. Penalties will depend on the offence; those offering the illegal activity face up to 10 years in jail and up to €500,000 in fines."

The pending law will be discussed Monday in parliament.