Britain moves ahead with online gambling summit plans

The United Kingdom Department for Culture, Media and Sport (DCMS) is planning to host an international summit in London in October for governments to come together and discuss regulations and codes for online gambling centers.

Tessa Jowell, the culture secretary, said the goal of the summit is to get international agreement on a new code of practice.

The DCMS announced their intentions of hosting a summit months ago on the heals of last year's introduction of the Gambling Act, the U.K.'s answer to modernizing its 40-year-old gaming laws.

With the change in the law, the U.K. became the first industrialized nation to legalize online gambling. The change also set up regulations for the industry in the U.K. which they want to encourage other nations to do.

The DCMS plans to invite the International Monetary Fund and World Trade Organization, along with ministers from all the main offshore gambling jurisdictions to encourage regulations and discuss setting up a universal code of practice for the online gambling industry. The code would include provisions such as requiring age verification checks.

Those same regulations and codes would also serve to protect the online gambling companies from fraud, money laundering and criminal infiltration.

According to a DCMS spokesperson, key political figures will attend from countries including the U.S., Canada and a number of EU member states. However, they're not sure yet if members of the gambling industry will be involved too.

More information about the summit can also be found in the article "British ministers reiterate need for international Internet gaming regulations."

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