Insights Archive

December 21, 2021

Illinois Gambling Lobbyist Who Opposed Casino Expansion Retires

Most gambling lobbyists are paid to advocate for the industry's expansion, but the head of the Illinois Casino Gaming Association spent almost all of his 20-year career battling legislators bent on saturating his state's market to increase tax revenue.

December 20, 2021

Learning from 2021 Regulatory Changes — Insight for 2022 and Beyond

This piece will look back at two notable and ongoing events: Brexit changes and the effect on payment service providers (PSPs) of reforms at the Federal Financial Supervisory Authority (BaFin), Germany’s financial regulator. It will relook at how these issues developed in 2021, and will seek to understand how these issues are likely to affect PSPs in 2022 and beyond.

December 20, 2021

Revolut Scores Full EU Banking Licence

The British-headquartered fintech has been granted a full banking licence from the European Central Bank.

December 20, 2021

Weak Automated AML Procedures Cost HSBC £64m

The UK Financial Conduct Authority has fined HSBC Bank £63,946,800 after finding failures in the bank’s automated processes that monitored hundreds of millions of transactions on a monthly basis.

December 20, 2021

Cardageddon Or An Easy Ride? One Year Into SCA

Strong customer authentication (SCA) was the final compliance requirement to be borne out of the revised Payment Services Directive (PSD2) and, one year in, it continues to make headlines. Here is our round-up of some of the key events, challenges and voices of the industry that kept SCA in the news in 2021.

December 20, 2021

Chaos' As Ukraine Skips Vote On Tax, Regulators

A vote to solve Ukraine’s gambling commission conflict and reduce its tax burden did not take place last week as planned, forcing ministers to scramble and leaving the industry looking to 2022 for long-term solutions.

December 20, 2021

Seminole Compact Challenge Forces Changes To California Sports-Betting Initiative

A federal judge’s decision to void a gaming compact between the Seminole Tribe and the state of Florida over a provision allowing state-wide mobile sports betting with servers based on tribal lands has prompted a coalition of four California tribes to revise their ballot proposal for online sports wagering.

December 20, 2021

Proposed Dutch Gambling Ban Sits In Minister's Hands

Whether and how the Netherlands imposes a ban on broadcast gambling ads plus restrictions on internet advertising will probably be up to an outgoing minister or his successor.

December 17, 2021

Christmas BNPL Spending Raises Concerns For Irish Consumer Watchdog

With one in three Irish consumers planning on using credit for their Christmas spending this year, Irish authorities have raised alarm bells about the risks of short-term credit, including credit cards and buy now, pay later (BNPL) products.

December 17, 2021

Week In Brief - December 17, 2021

A short roundup of some of the week's payments news you may have missed. This week we look at the UK Payment Systems Regulator's update on SD2 and SD3, the first group of European ACHs' technical account migration to TIPS, the latest U.S. actions concerning consumer privacy, fines in Cyprus, and a new cross-border taskforce set up by the Bank for International Settlement.

December 17, 2021

Update: U.S. Senator Offers Alternative To Bank-Like Stablecoin Regulation

In contrast to an interagency report that seeks to bring stablecoin issuers under bank-like regulations, a U.S. Republican Senator would allow stablecoin issuers to choose from three regulatory regimes based on their business models.

December 17, 2021

Dutch Parliament Calls For Ban On Gambling Advertising

The Dutch House of Representatives last night passed a surprise motion calling for an end to gambling advertising, a step which will pressure the Cabinet to address a possible ban on sports betting and casino ads.

December 17, 2021

Irish National Lottery Calls For 'Must Win Draw'

The luck of the Irish has been found wanting, as the National Lottery operator seeks approval for a “must be won draw” to be introduced for a controversial jackpot that has remained un-won since June.

December 17, 2021

Nevada Regulators Approve San Manuel Tribe To Own Las Vegas Casino

The Nevada Gaming Commission has unanimously approved a gaming license for the San Manuel Gaming and Hospitality Authority, a subsidiary of the San Manuel Band of Mission Indians, to acquire the Palms casino from Red Rock Resorts for $650m.

December 17, 2021

Breakthrough For Brazil Gambling Expansion

Brazil took a key step toward passing a sweeping gambling expansion plan when lawmakers on Thursday approved a resolution to fast-track a heavily amended bill to regulate casino-resorts, bingo halls and online gaming, although a final vote in the Chamber of Deputies will not be held until February.

December 17, 2021

Gaming Companies Present Chicago Casino Proposals

Three companies vying to construct an integrated resort in Chicago pitched their proposals to the public on Thursday as part of the selection process to obtain the city’s lone casino license.

December 17, 2021

News In Brief: December 13-December 17, 2021

Industry's good works trumpeted in UK trade group report and Maryland scraps official league data plan.

December 16, 2021

LINK Leads On New Retail Bank Collaboration For Cash Services

The UK’s largest retail banks have reached an agreement on providing shared banking hubs, but will it be enough to steady the country’s dwindling access to cash?

December 16, 2021

Nevada Regulators Reviewing Remote ID Verification

The Nevada Gaming Control Board will hold another workshop as regulators consider whether to approve a regulatory amendment submitted by Sightline Payments that would enable remote verification of casino wagering accounts, but not for sports betting and pari-mutuel accounts.

December 16, 2021

Brazil Opens Door To Open Finance

As Brazil enters the last phase of its open banking initiative in the guise of open finance, the country’s central bank lays out an implementation plan for different products.

December 16, 2021

Almost 40 Percent Of E-Money Institutions Raise Money Laundering Red Flags, Transparency International Says

New analysis published by Transparency International says 38 percent of the UK’s electronic money institutions raise some sort of money laundering concerns and calls out for more oversight of the growing sector.