 "egames, esports, online games, sports")
Online skill gaming, which attracts millions of customers and involves large sums of money, is likely to be brought within the purview of the Prevention of Money Laundering Act (PMLA) in an attempt to thwart money laundering (ML) and terror financing (TL) via such activities.
If platforms facilitating online gaming with stakes are brought within the PMLA’s purview, such companies would have to follow the know your customer (KYC) norms while onboarding users.
The need for such a move arose after investigation agencies failed to track certain money trails because online skill gaming companies did not authenticate their customers
