Govt. justifies move to impose ban on online money games, Pg12

Key Highlights:

• The Central government defended the Promotion and Regulation of Online Gaming Act in the Supreme Court.
• The government estimates that 45 crore people have been negatively impacted by online money games, with losses exceeding ₹2,000 crore.
• The government argued that online money gaming (OMG) leads to addiction, fatalities, money laundering, and potential terror financing.
• The Centre asserted that there is no fundamental right to trade or profession at the cost of human lives, referring to Article 19 of the Constitution.

Detailed Insights:

• The government aims to curb the rapid spread of online money games, citing serious risks to individuals, families, and the nation.
• Systemic legal violations linked to OMG platforms include large-scale tax evasion, money laundering, and cross-border illicit fund flows.
• Banks have identified "money mule accounts" linked to OMG websites, indicating the use of customer identities for illicit activities.
• The rise in popularity of OMG after COVID-19 coincides with an increase in fraud cases involving online gaming, gambling, and illegal loan apps.
• OMG platforms pose risks such as identity theft, personal data compromise, and exposure to cyber threats like spyware and viruses.

Key Concepts Involved:

• Article 19: Guarantees the right to freedom of speech, expression, assembly, association, movement, and the right to practice any profession or to carry on any occupation, trade or business.
• Money Laundering: The process of concealing the origins of illegally obtained money, disguising it as legitimate income.
• Terror Financing: The act of providing financial support to terrorists or terrorist groups to enable them to carry out terrorist acts.