Representative image NEW DELHI: Justifying its decision to ban online money games by bringing Promotion and Regulation of Online Gaming Act, Centre on Tuesday told Supreme Court that the unregulated online gaming sector had links with terror financing and money laundering, but said it was premature to examine validity of the law as it had not yet been notified after President’s assent.In an affidavit filed in court on a batch of petitions challenging validity of the law, the Centre told the court that the Act was meant to protect individuals, especially youth and vulnerable populations, from the adverse social, economic, psychological and privacy related impacts of online money games and to safeguard the integrity of financial systems and security and sovereignty of the country.”Unchecked expansion of online money gaming has been linked to financial fraud, money laundering, tax evasion, and in some cases, the financing of terrorism, thereby posing threats to national security, public order and integrity of the state… There is enough material and data that indicates the unregulated online gaming sector has links with terror financing and money laundering, yet again establishing the exclusive compete-nce of Parliament to regulate the same,” the affidavit said.It said data pertaining to money laundering and terror financing links to online money games were classified but agreed to place the same in SC in a sealed cover. “An analysis of data from Suspicious Transaction Reports and Cross Border Wire Tra-nsfer Reports revealed online gaming companies registered in small island countries where user accounts were registered with Indian banks in the name of proxy persons. The money collected from the users has been remitted out of India by misdeclaring purposes of remittances,” the affidavit said.End of ArticleFollow Us On Social MediaVideosKejriwal, Mann Pay Homage to Ninth Sikh Guru on 350th Martyrdom DayYogi Adityanath Uncovers The Dark Truth Of Mughal’S Tyranny On Shaheedi DiwasIndia Entering ‘Golden Era’ Of Defence Innovation And Self-Reliance: Rajnath Singh‘Until Brahmin Donates His Daughter’: IAS Officer’S Remark Sparks Row, Issues Clarification’A Nation That Never Bows to Terror, Operation Sindoor Shows New India’s Resolve, Says PM ModiChina Rejects Charge of Harassing Indian Woman in Shanghai, But Insists Claim Over Arunachal PradeshMamata Banerjee Warns BJP With Nation-Shaking Threat As SIR Battle Erupts In Bengal Ahead Of PollsAssam CM Calls Zubeen Garg’S Death ‘Plain Murder’, Drops Explosive RevelationDrone Show Pays Homage To Guru Tegh Bahadur In 350th Martyrdom Anniversary Event At Anandpur SahibRed Fort Attack May Derail Benjamin Netanyahu’s India Visit As Israeli Media Flags Safety Concerns123Photostories5 electric blue animals that seem to be painted with ocean water6 factors that are essential to balance blood sugar naturallyThe most viral MET Gala moments you almost forgot10 phrases your child should avoid saying and what to teach them insteadExclusive – Bigg Boss 19: From opening up about her relationship with Kumar Sanu to calling Malti Chahar a ‘lesbian’; Kunickaa Sadanand breaks silence on her journey5 celebrity looks of the day that are setting major fashion goalsMrs. Gump’s most inspiring life lessons from Forrest Gump that still inspire generations8 modern-sounding baby boy names in Sanskrit and their meaningWinter-Friendly Fruits: 8 plants that thrives in cold-weather gardensFrom ‘Dhurandhar’ to ‘Kill Dil’: Moments when Ranveer Singh ruled action on screen123Hot PicksDelhi AQI TodayNew Labour CodeCyclone SenyarGold rate todaySilver rate todayPublic Holidays NovemberBank Holidays NovemberTop TrendingEthiopian Volcanic EruptionVaishno Devi College AdmissionsNHL RumorsJoe Thornton Net WorthStem OPT ExtensionMLB Trade RumorsSmriti Mandhana EducationAsha Jadeja MotwaniTyson FuryTrump Gold Card
NEW DELHI: Justifying its decision to ban online money games by bringing Promotion and Regulation of Online Gaming Act, Centre on Tuesday told Supreme Court that the unregulated online gaming sector had links with terror financing and money laundering, but said it was premature to examine validity of the law as it had not yet been notified after President’s assent.In an affidavit filed in court on a batch of petitions challenging validity of the law, the Centre told the court that the Act was meant to protect individuals, especially youth and vulnerable populations, from the adverse social, economic, psychological and privacy related impacts of online money games and to safeguard the integrity of financial systems and security and sovereignty of the country.“Unchecked expansion of online money gaming has been linked to financial fraud, money laundering, tax evasion, and in some cases, the financing of terrorism, thereby posing threats to national security, public order and integrity of the state… There is enough material and data that indicates the unregulated online gaming sector has links with terror financing and money laundering, yet again establishing the exclusive compete-nce of Parliament to regulate the same,” the affidavit said.It said data pertaining to money laundering and terror financing links to online money games were classified but agreed to place the same in SC in a sealed cover. “An analysis of data from Suspicious Transaction Reports and Cross Border Wire Tra-nsfer Reports revealed online gaming companies registered in small island countries where user accounts were registered with Indian banks in the name of proxy persons. The money collected from the users has been remitted out of India by misdeclaring purposes of remittances,” the affidavit said.
