Dutch banking row with UK banks


As a British bank with substantial Netherlands interests, what do you do when Dutch politicians start giving orders?

A British banking row over Dutch online gambling that has been simmering since early this year surfaced again this week as rumours circulated that another bank may be about to join the Royal Bank of Scotland in apparently taking directions from Dutch politicians.

Complicating the issue, there appears to be some uncertainty over whether the Dutch demand that British banks refuse to process online gambling transactions to Dutch residents is backed by appropriate Dutch legislation.

Fiery Dutch minister of justice Ernst Hirsch Ballin ignited the furore earlier this year when he wrote to British banks hinting that the Dutch government could resort to legal measures if its requests to cut off online gambling transactions with Dutch residents were not met.

The intriguing issue of whether there is Dutch legislation actually backing his implied threat is still live. At the time, Dutch gaming law expert Justin Franssen, succinctly pointed out: “The minister literally said that if he finds out that the letter to the banks is having no effect then he intends to put legislation in place. He is admitting that there is no legislation – no legal basis – for this. ”

Even Dutch justice ministry officials appeared uncertain, surmising that the issue might be covered under the Gambling Act of 1964's clauses regarding "stimulating participation" in gambling generally, or by a Dutch Supreme Court ruling that prohibits entities from helping online operators carry out any illegal business.

And a source within the ministry admitted that the European Commission was unlikely to be happy with the unilateral attempt to impose a Dutch ban on companies within another EU member nation.

It is understood that the Dutch still face a legal challenge on the issue from the UK-based betting exchange giant Betfair, too.

Nevertheless, the Royal Bank of Scotland, now 70 percent owned by the British taxpayer following its near-failure after the sub-prime mortgage debacle, agreed to comply, possibly because it reportedly has substantial Dutch interests. It is understood that the Dutch government had earlier selected RBS as its primary bank for financial transactions, giving RBS responsibility for around 66 million transactions per year.

But RBS appeared to be the only British bank prepared to accept Dutch direction, until last week, when rumours surfaced that Barclays Bank may be prepared to submit to the Dutch requirements as well.

Reports in the Dutch media that the Brits were sending a political mission to the Netherlands to discuss the issue were denied by British government officials, and Barclays appeared to be stonewalling, saying only that it would ensure its clients were aware of the provisions of the Dutch Gaming Act, a relic from 1964 which has little relevance to conditions pertaining today.

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

5mins ago someone from United States played Samba Brazil

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    18
  • Members Online
    392
  • Guests
    1,819
Highest Community Rated Online Casinos
NextCasino
  (152 Ratings)
Bet365 Games
  (165 Ratings)
Unibet Casino
  (133 Ratings)
CasinoLuck
  (218 Ratings)
Betsson Casino
  (210 Ratings)
Spin Palace Casino
  (117 Ratings)
Betsafe Casino
  (181 Ratings)
Mr Green Casino
  (281 Ratings)
Redbet Casino
  (147 Ratings)
Guts Casino
  (174 Ratings)
Slotty Vegas
  (111 Ratings)
Sin City Casino
  (99 Ratings)
32 Red Casino
  (305 Ratings)
Vera John Casino
  (176 Ratings)
Winner Casino
  (340 Ratings)
Intertops Red Casino
  (121 Ratings)
BETAT Casino
  (191 Ratings)
ComeOn Casino
  (237 Ratings)
Tetraplay Casino
  (26 Ratings)
24hBet
  (26 Ratings)
Osiris Casino
  (32 Ratings)
Liberty Slots Casino
  (183 Ratings)
Thrills Casino
  (132 Ratings)
Casumo
  (135 Ratings)
Intertops Casino Classic
  (109 Ratings)
Ladbrokes Casino
  (155 Ratings)
Royal Vegas Casino
  (131 Ratings)
Jetbull Casino
  (103 Ratings)
Vegas Red Casino
  (190 Ratings)
3Dice Casino
  (250 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus