By Rufus Divine Brooks Jr
The Liberia National Lottery Authority (LNA) has suspended the operational license of payment services company LIPAY Inc., effective immediately, following allegations of involvement in illegal betting activities.
The LNA stated that its investigation uncovered evidence suggesting that LIPAY Inc. facilitated operations for 1XBET, an online betting platform operating without a license in Liberia.
The probe revealed that the company’s payment services were used to process transactions for 1XBET, enabling the platform to continue operating despite lacking regulatory approval.
Citing this violation of Liberian laws, the LNA acted swiftly to suspend LIPAY Inc.’s license to prevent further illicit activities.
The move serves as a warning to all businesses in Liberia’s gaming and financial sectors, highlighting the importance of adhering to the country’s regulations.
The LNA emphasized its commitment to enforcing compliance, ensuring that all operators maintain high standards of integrity and transparency.
The suspension is expected to have significant implications for Liberia’s gaming industry, reinforcing the government’s stance against illegal operations and protecting citizens from unscrupulous operators.
Law-abiding businesses are likely to welcome the decision, which supports a fair and regulated market.
The LNA continues its investigation and urges the public to report any suspicious activity related to illegal betting or other illicit gaming operations.
