Royal Bank of Scotland Says No to Online Gambling

Despite the fact that a few years ago the UK Government legalized and regulated online gambling, one the country's leading banks, the Royal Bank of Scotland, has announced that it no longer wishes to conduct business with online gambling operators based in either The Netherlands or Switzerland.

Founded in 1727, the Royal Bank of Scotland (RBS) had been a stalwart of the UK banking world, and indeed the world, until mismanagement of the Edinburgh-based institution last year almost resulted in the bank's collapse. It was narrowly saved thanks to a merger with enormous Dutch bank, ABN AMRO.

Which means that the Royal Bank of Scotland is now effectively under the control of the Dutch Government - illustrated clearly when the boardroom executives who were responsible for the bank's near demise were systematically 'let go' - and this may have something to do with its change in online gambling policy.

However, the RBS has denied that its association with ABN AMRO resulted in its decision to 'pull the plug' on certain offshore online gambling clients. The bank also denied claims that it owns Swiss-based private wealth management firm, Coutts, which was also asked to stop processing online gambling-related transactions.

And it doesn't stop there, as according to recent reports, all online gambling operators that are affiliated with the Royal Bank of Scotland in Alderney, Gilbraltar and the Isle of Man that have business dealings with Swiss or Dutch online gambling firms, have been instructed to make alternative banking arrangements.

Earlier this year, the Dutch government reportedly sent letters to banks across the Netherlands requesting that they block all online gambling-related payments that take place over the Internet. Not taking this lying down, is leading UK online betting firm Ladbrokes, who is currently trying to sue the Dutch government.