Russia to raise punishment for illegal gambling organization

The Russian parliament is currently considering a bill toughening punishments for the organization of illegal gambling activities. 

The draft document has already passed three readings in the lower house of the parliament and has to be considered by the higher house before being signed into law by President Vladimir Putin. 

According to an explanatory note to the document, the proposed change is aimed at preventing the organization of gambling under the guise of the trading of securities, as well as under the guise of bookmakers and totes.

The bill proposes that the Bank of Russia can cancel the securities license of a securities market participant for organizing illegal gambling or for violating lottery laws by holding lotteries without government permission. 

In addition, the document proposes to introduce the possibility of canceling a gambling license in case of inaction of a gambling activities organizer during a quarter in a calendar year.