Insights Archive

May 3, 2024

China's Central Bank Urges Merchants To Display 'Cash Accepted' Sign

China’s central bank has issued new guidance asking merchants to display a standardised "cash accepted" sign, as concerns grow that certain groups are facing financial exclusion in China’s cashless economy.

May 3, 2024

Week In Crypto: Binance Founder Sentenced To Four Months In Prison

The founder of Binance is set to be out of prison by the end of summer, after receiving a light-touch sentence that has stunned compliance professionals worldwide.

May 3, 2024

Daily Dash: US Senators Warn That Iran Is Mining Bitcoin To Evade Sanctions

US senators have demanded action from the White House to stop Iran using Bitcoin to evade sanctions, while the Reserve Bank of India has updated its guidance on operational risk management.

May 3, 2024

Taiwan Convicts 52 Online Gaming Employees, Bosses To Follow

A Taiwanese court has convicted the first tranche of 52 employees from a leading Chinese online gambling group for organising illegal gambling activity for profit, although all avoided jail time after confessing to the charges.

May 2, 2024

U.S. Gaming Companies Confronting Compliance Pitfalls In Less Regulated Jurisdictions

As more global jurisdictions legalize land-based or online gambling there are greater international opportunities for U.S. operators and suppliers, but also pitfalls in jurisdictions that may have less developed regulatory regimes.

May 2, 2024

UK Changes Target Cross Selling, Seek Consistency On Checks

New changes to UK Gambling Commission licensing rules combine with a voluntary industry code to make changes, including making cross-selling trickier, and an aim to ensure consistency in financial risk checks.

May 2, 2024

Bulgaria Braces For Ad Ban

Bulgaria is set to ban most forms of gambling advertising after its parliament unanimously backed a bill to limit marketing.

May 2, 2024

Scam Losses Fall In Australia, Except For Over-65s

Total losses to scams in Australia have fallen for the first time in six years, but not for the over-65s, who remain the most targeted demographic, a new report has found.

May 2, 2024

UK PSR Sets Out Tough Approach To Non-Compliance

The UK Payment Systems Regulator (PSR) has proposed setting a “high bar” for granting extensions and exemptions to firms struggling to comply with its rules.

May 2, 2024

Daily Dash: Spanish AML Regulator Launches New Money Mule System

Spain has rolled out a new reporting system designed to help firms catch money mules, and India has announced the launch of a new study of AI and its effects on competition.

May 1, 2024

Mobile Sports-Betting Bill Dies In Mississippi Legislature

House and Senate members failed to reach a consensus over legislation to permit mobile sports betting in Mississippi before a key deadline, marking another failed effort to expand the state’s wagering options.

May 1, 2024

Amid Criminal Investigation, U.S. Casinos Urged To Tighten Source Of Funds Procedures

The federal prosecutor who brought charges against a one-time Las Vegas casino executive and the former interpreter for Shohei Ohtani of the Los Angeles Dodgers has urged casino compliance executives to consider more options to assist them in verifying the source of patrons’ funds.

May 1, 2024

Spanish Study Expands Gambling Addiction Complexity

A Spanish study has found that nearly all gambling addicts have another mental disorder, resulting in calls for a new diagnosis: dual gambling disorder.

May 1, 2024

EU Fraud Plans Don't Go Far Enough, EBA Says

The European Banking Authority (EBA) has set out a variety of recommendations for EU legislators to tackle payments fraud, suggesting that current regulatory frameworks do not go far enough.

May 1, 2024

Bank Of Lithuania Introduces New Fraud Prevention Guidelines

Payments and electronic money institutions will be subject to new guidelines issued by the Bank of Lithuania intended to prevent payments fraud.

May 1, 2024

Thunes To Acquire Tilia, Payments Licences In 48 US States

Payments infrastructure provider Thunes has agreed to acquire Tilia, a licensed US money transmitter focused on online gaming, allowing it to leapfrog time-consuming regulatory approvals in a key market.

May 1, 2024

Daily Dash: DBS Bank To Resume Non-Essential Activities Following Six-Month Pause

Singapore's central bank has given DBS its freedom back after spending six months working on operational resilience, and RuPay and JCB have combined to offer cardholders 25 percent cashback on international spending.

May 1, 2024

UK Gambling Commission Sets Out New White Paper Rules

The UK’s Gambling Commission has announced a series of rule changes, including opt-in marketing of gambling products, a five-second minimum on most casino games and what it calls “light-touch financial vulnerability checks”.

May 1, 2024

After Alabama Lawmakers Reach Deal On Gambling Expansion, Senate Fate Uncertain

Alabama edged closer to authorizing a major expansion of gambling on Tuesday night after the House approved a compromise bill to authorize commercial and tribal casinos, but the Senate appeared to be one vote shy of teeing up a voter referendum.

April 30, 2024

More Than Half Of Online French Players Gamble On Black Market

The French Online Gaming Association (AFJEL) has reiterated its calls to legalise online casino games after the latest report from the National Gaming Authority (ANJ) documented further growth of unlicensed online gambling.

April 30, 2024

Guru Pay Fined €85,000 In Lithuania For Compliance Failures

The Bank of Lithuania has fined Guru Pay €85,000 for failures to comply with a variety of payments and money laundering laws.