- Joined
- Sep 18, 2018
- Messages
- 6,312
- Reaction score
- 1,648
India is considering new payment-data requirements aimed at tracing funds linked to illegal online gaming and betting.
The Directorate General of GST Intelligence has proposed requiring payment records to identify the website that directed a transaction, while also disclosing bank accounts connected to a website’s GST registration
The proposal follows a 14-month investigation that identified INR 700 billion ($7.4 billion) in transactions associated with illegal gaming and betting networks during one financial year.
The measures remain under consultation, with authorities still deciding who would collect, verify and retain the additional payment information.
Source: India Eyes New Payment Rules to Trace Illegal Gaming Funds
The Directorate General of GST Intelligence has proposed requiring payment records to identify the website that directed a transaction, while also disclosing bank accounts connected to a website’s GST registration
The proposal follows a 14-month investigation that identified INR 700 billion ($7.4 billion) in transactions associated with illegal gaming and betting networks during one financial year.
The measures remain under consultation, with authorities still deciding who would collect, verify and retain the additional payment information.
Source: India Eyes New Payment Rules to Trace Illegal Gaming Funds