Insights Archive

September 6, 2024

UK Regulator Urges Banks To Improve Payment Accounts Access

The Financial Conduct Authority has issued a call to banks, building societies and payment firms operating in the UK to do more to provide access to bank accounts, particularly for those who currently lack one.

September 6, 2024

Daily Dash: Three Wirecard Execs Ordered To Pay €140m In Damages By Munich Court

A bankruptcy court in Munich has ordered a €140m payout from three former Wirecard executives, while financial regulators in Qatar have announced the launch of the country’s first digital asset regulation.

September 6, 2024

News In Brief: September 2-September 6, 2024

A hub for online gambling and cyber scamming operations is being forcibly closed down by a regional ruling military group in Myanmar.

September 5, 2024

Legal Challenge To Missouri Sports-Betting Measure Set For Hearing

A first hearing will be held Thursday on a lawsuit that seeks to block a ballot measure to permit sports betting in Missouri from being considered in November’s election.

September 5, 2024

Svenska Spel Given €176,000 Penalty Fee For Bingo Hall Machine Violations

The Swedish Gambling Authority (SGA) has issued government-owned Svenska Spel a warning and a 2m Swedish krona (€176,000) penalty fee for violations linked to gaming machines at bingo halls.

September 5, 2024

UK Regulator Proposes Dropping APP Fraud Reimbursement Cap To £85,000

The Payment Systems Regulator appears to have bowed to industry pressure over its incoming authorised push payment (APP) fraud reimbursement rules, keeping the date the same but significantly reducing the cap for reimbursement from £415,000 to £85,000.

September 5, 2024

Daily Dash: Poland's BLIK Mobile Payments Platform Continues Slovakia Expansion

Poland's BLIK has announced that it can now be used to make e-commerce payments in Slovakia, while South Korea and Indonesia have agreed a launch date for a cross-border payments agreement using local currencies.

September 5, 2024

California Financial Institutions Face Fraud Liability Overhaul

The California state legislature has approved Senate Bill 278 (SB 278), a measure aimed at bolstering protections against financial abuse targeting the elderly and vulnerable.

September 4, 2024

PSR Proposes Dropping APP Fraud Reimbursement Cap To £85,000

The Payment Systems Regulator (PSR) appears to have bowed to industry pressure over its incoming authorised push payment (APP) fraud reimbursement rules — keeping the date the same but significantly reducing the cap for reimbursement from £415,000 to £85,000.

September 4, 2024

Daily Dash: Stricter Regulations Needed For Cash Services, Says Sweden's Riksbank

The central bank of Sweden has recommended that cash services be protected by additional regulation, while Cambodia has announced the launch of a new cross-border payments corridor with South Korea.

September 4, 2024

Payment Initiation Services The Key Focus As Saudi Arabia Unveils Latest Part Of Open Banking Framework

The Saudi Central Bank (SAMA) has officially released the second version of its Open Banking Framework, marking a significant step forward in the kingdom’s fintech landscape.

September 4, 2024

Colombian Operators Raise Alarm Over VAT Plan

The Colombian government’s plan to apply value-added tax to online gambling threatens to make the sector “completely unviable”, according to a leading trade association representing local operators.

September 4, 2024

Swedish Regulator Gains Power To Set Detailed Duty Of Care Requirements

The Swedish government has given the Swedish Gambling Authority the power to set detailed requirements for gambling licensees’ action plans for curbing excessive gambling, in a move set to take effect on October 1.

September 4, 2024

U.S. Gaming States Cracking Down On Offshore Gambling Sites

The recent efforts by state gaming regulators to prevent prominent offshore gambling websites, such as Bovada, from accessing consumers in their jurisdictions is an extension of state-level enforcement initiatives dating back several years, according to one policy expert.

September 3, 2024

Louisiana Lawmakers To Study iGaming, But Long Odds Remain For Legalization

A Senate study committee will convene in early October to consider introducing internet gaming legislation during next year’s legislative session, in order to shore up Louisiana’s fragile budget outlook.

September 3, 2024

Argentina Inundated With Restrictive Advertising Bills

In the latest effort to curtail gambling advertising in Argentina, a federal senator has presented a bill to ban online sports betting and gaming operators from advertising in traditional media and on social networks.

September 3, 2024

Daily Dash: California Passes First AI Safety Legislation In US

California could become the first US state to enact AI safety legislation, pending the governor’s signature, while Latvia has opened a pre-licensing consultation for firms seeking authorisation under MiCA.

September 3, 2024

Commonwealth Bank CEO Under Fire Following Surcharge Comments

The CEO of Australia’s largest bank has come under fire after suggesting that merchants are gouging consumers by surcharging for card payments.

September 3, 2024

Amazon Web Services, Mastercard Among Industry Giants Uniting To Combat UK Economic Crime

Leading finance and technology firms have formed a coalition in the UK to tackle economic crime via enhanced digital verification, according to an announcement by the Centre for Finance, Innovation and Technology (CFIT).

September 3, 2024

Singapore Opens Public Consultation On New Protection From Scams Bill

Singapore’s Ministry Of Home Affairs (MHA) has announced plans to introduce a Protection from Scams Bill, intended to safeguard individuals at risk from online fraud.

September 3, 2024

Romania’s Co-ruling Party Proposes Gambling Advertising Ban

Romania’s co-ruling National Liberal Party (PNL) has announced that eliminating gambling advertisements is one of its main legislative proposals for the autumn parliamentary session which began on September 2.