Hellapenos

How to play Hellapenos

Specifically, 156 out of 229 accounts with no pending bets remained linked to BetStop users seven days after self-exclusion registration. Some accounts were non-compliant for periods extending up to 200 days.

Carolyn Lidgerwood, an ACMA member, stressed the importance of respecting self-exclusion decisions, stating “providers must respect that decision” and “must have robust systems in place”. 

These remarks align with a broader regulatory focus on harm-minimisation within online gambling, where adherence to self-exclusion protocols is under closer scrutiny.

How to play Hellapenos

An issue raised by Giannis Vasiliadis, director of WBAS, was the limited access to recipients’ banking information. This limited data can hint at suspicious activity but cannot conclusively verify gambling transactions.

Data Protection Commissioner Maria Christofidou said her office had reevaluated a 2022 legal opinion and now recognised a potential legal basis for more granular access to banking information.

Various MPs voiced concerns about the risk of privacy violations in accessing this data, and the potential social stigma around the information being shared.

What is Hellapenos?

MFS operated as a non-bank lender—often termed a “shadow bank”—that borrowed funds from institutional investors to finance property loans for its clients.

The company experienced rapid expansion prior to its collapse, with its loan book reaching approximately £2.4 billion ($3.2 billion) by the end of 2024. Its creditors included major international financial institutions and private equity firms.

In March, courts in London and Dubai imposed a worldwide freezing order on Raja’s assets up to £1.3 billion.