Only Three Russian Banks Are Implementing New Transaction Blocking Laws Against Unlicensed Operators

Other banks await the Federal Tax Service offical blacklist of illegal gambling websites

Whilst Russian telecoms regulator Roscomnadzor may be wielding the online casino ban hammer with enthusiasm (tens of thousands of domains are on its blacklist) it appears that some Russian banks are content to await an official list from the Federal Tax Service before halting transactions with foreign entities.

That’s the gist of local media reports from Russia this week that claim that only three of the country’s major banks – Sberbank, VTB and Tinkoff – are observing new laws passed on May this year prohibiting banks from processing transactions for foreign gambling companies.

Other banks and financial institutions are taking a more cautious and considered approach, apparently awaiting official blacklisting communications and lists from the Federal Tax Service despite overarching legislation which effectively renders all foreign gambling companies accessing Russian punters without a Russian licence illegal.