Insights Archive

October 12, 2021

Impact Analysis: How FATF’s Greylisting Will Affect Malta and PSPs

This analysis looks into the details of the Financial Action Task Force’s (FATF) decision to add Malta to its list of jurisdictions under increased monitoring (greylist), the reasons for it happening, the conditions FATF has set Malta for being delisted and the short- and long-term impact of the country being greylisted. The analysis will also look at how this will affect payment service providers (PSPs) headquartered and operating in Malta.

October 12, 2021

Consultation Responses Reveal Divergence Of Opinion Over Faster Payments Consumer Protections

The UK Payments Systems Regulator has released the responses to its consultation on consumer protections of interbank payments, which reveal contrasting opinions on how Faster Payments can provide a competitive alternative to card payments while ensuring customers are adequately protected.

October 12, 2021

Swish Migration To RIX-INST Opens New Chapter In Swedish Payments Success Story

Swedish mobile payments service Swish is planning to migrate its services to the new central bank-developed RIX-INST, as part of a wider development of instant payments services in the country.

October 12, 2021

Workplace Culture Takes Centre Stage As New OBIE Chair Starts

We will learn from past mistakes to help open banking deliver on its mission as a public good, the new chief executive, Charlotte Crosswell, has said as she takes over following a bullying scandal at the Open Banking Implementation Entity (OBIE).

October 12, 2021

The GDPR In Its Fourth Year - Q&A With An Expert

To review the last three years of the EU's General Data Protection Regulation (GDPR), VIXIO spoke to Alex Scheinman, managing director at ACA Aponix, about the regulation's effect on the world, the influence that coronavirus, Brexit and Schrems II have had on it and the future of data privacy.

October 12, 2021

California Wrestles With Dual Licensure For Gaming, Marijuana

Like in Nevada, gambling regulators in California are expressing some concern at potential interactions between state-licensed gaming businesses and the lawful marijuana industry.

October 12, 2021

Challenges Persist Converting U.S. Players To Home Markets

When the time comes for another U.S. state to pass sports-betting legislation, the starting point of debate will likely be converting players from offshore sportsbooks to regulated markets, even if post-legalization challenges remain.

October 12, 2021

UK Gambling Regulator Warns On Unlicensed Fantasy Football Site

The UK Gambling Commission has warned consumers that football-themed website Sorare.com is operating outside its jurisdiction, a warning that follows criticism of the regulator for acting slowly on Football Index, which collapsed earlier this year.

October 11, 2021

FCA Official Hints At Fresh BNPL Regulation

Buy now, pay later (BNPL) products offer better opportunities to consumers, but the risks of potential harm need to be monitored, a senior official at the UK’s Financial Conduct Authority (FCA) has said.

October 11, 2021

Stablecoin Regimes Risk Spurring Regulatory Arbitrage, Warns FSB

The different approaches being taken towards the Financial Stability Board’s stablecoin recommendations could have negative consequences for financial markets, the standard-setting body has warned.

October 11, 2021

U.S. Operators Cautious On Crypto But Embracing Cashless Payments

The CEOs of two of the world’s most powerful casino companies responded with caution when a keynote panel at last week's Global Gaming Expo (G2E) turned to cryptocurrencies.

October 11, 2021

Fedwire To Adopt ISO 20022 By 2023, But Are Banks Ready?

The Federal Reserve has announced the adoption of ISO 20022 messaging standard as part of its payments modernization effort but mid-tier banks may be struggling with migration by the planned 2023 deadline.

October 11, 2021

Thailand Requires Risk-Based Approach To Merchant Monitoring

New Bank of Thailand guidelines require payment providers to apply a risk-based approach in their relationships with merchants.

October 11, 2021

BetIndex Used Client Cash To Expand Despite Collapse, Probe Finds

The owners of Football Index transferred £15m ($20m) of customers’ money to a connected company even as it was collapsing in the UK in a bid to launch similar games around the world, according to a sports website investigation.

October 11, 2021

Star Entertainment Accused Of Enabling Crime, Shares Plunge

Australia’s gambling industry has suffered a new, heavy blow with media reports that The Star Entertainment Group’s casinos allegedly enabled years of money laundering, fraud, organised crime activity and political foreign interference.

October 11, 2021

Las Vegas Gambling Think Tank Broadens Global Footprint

As Singapore’s Ministry of Home Affairs continues to revamp the country’s gambling regulatory framework, a think tank at the University of Nevada at Las Vegas is providing guidance on how to make a successful transition.

October 11, 2021

U.S. Operators Cautious On Crypto But Embracing Cashless Payments

The CEOs of two of the world’s most powerful casino companies responded with caution when a keynote panel at last week's Global Gaming Expo (G2E) turned to cryptocurrencies.

October 8, 2021

ICO Stresses High Data Protection Standards In Post-Brexit Consultation Response

The devil will be in the detail of the government’s data protection reforms, the Information Commissioner’s Office (ICO) has said in response to the UK government’s push to overhaul the 2018 Data Protection Act.

October 8, 2021

Week In Brief - October 8, 2021

A short roundup of some of the week's payments news you may have missed.

October 8, 2021

NatWest Makes History In Landmark Money Laundering Prosecution

National Westminster Bank (NatWest) has become the first bank to be prosecuted by the UK’s Financial Conduct Authority for failing to comply with anti-money laundering rules.

October 8, 2021

UK Data Regulator Gives Thumbs Up To Single Customer View

UK gambling operators sharing customer data to help cut problem gambling would probably be legal, according to a new report.