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Royal Bank of Scotland Says No to Online Gambling


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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.

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