Insights Archive

June 7, 2022

EBA Plots Licence Withdrawal For Serious AML Breaches

Proposed new rules would formalise the ability for European authorities to recommend to national counterparts to remove the licence of financial firms that breach regulations, while evidence suggests that this could hit payment firms the hardest.

June 7, 2022

Japan Takes Lead In Stablecoin Regulation As Bill Passes Through Parliament

Japan has become one of the first advanced economies to introduce a legal framework for stablecoins, amid renewed focus from regulators following the collapse of TerraUSD.

June 7, 2022

India Opens Up Bharat Bill Payment System To Smaller Non-Bank Users

A new amendment to India’s Bharat Bill Payment System guidelines means that smaller non-bank entities will now be eligible to join.

June 7, 2022

Americans Lost $1bn To Crypto Scams, FTC Says

US consumers reported losing more than $1bn to fraud involving cryptocurrencies from January 2021 through to March 2022, new analysis from the Federal Trade Commission (FTC) has found.

June 7, 2022

European Prosecutor Hails Improved Fraud Action, But Acknowledges More Needs To Be Done

The first year of operations of the European Public Prosecutor’s Office shows that it is working well, the authority has said, as it calls on member states to up their game.

June 7, 2022

MAS Expands Customer Security Requirements For Online Banking

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have set out additional measures to further safeguard customers from digital banking scams.

June 7, 2022

Finland's Supreme Court Says Fantasy Sports Belong To Monopoly

A long-running dispute over whether popular fantasy sports games are legal under Finland’s monopoly gambling law has ended with victory for the state.

June 7, 2022

UN Group Calls On Poland To Amend Gambling Rules, Create New Regulator

The Polish branch of a United Nations corporate responsibility initiative has celebrated the country’s apparently shrinking black market, but is still pushing for a regulatory overhaul.

June 7, 2022

Rush Street Interactive CEO Ties Online Profitability To Player Retention

Rush Street Interactive CEO Richard Schwartz used an investor conference on Monday as an opportunity to remind analysts that profitability in the online gaming business comes from player retention, rather than acquisition.

June 7, 2022

After Mastering Internet Gambling, New Jersey Eyes Esports

Less than one year into his second four-year term, Democratic Governor Phil Murphy of New Jersey hopes to achieve the same success with esports as his state has enjoyed with internet gaming and sports betting.

June 6, 2022

Dubai Leading The Way As A Fintech Hub In Fast Growing Region

The Middle East is going through a large digitalisation phase, backed strongly by local government efforts. As banks’ approach to fintechs is changing, Dubai is turning into a preferred destination for fintechs to get a foothold in the region.

June 6, 2022

Project Guardian: Singapore Launches New Digital Asset Pilot Focused On Defi, Tokenisation

The Monetary Authority of Singapore (MAS) has launched a new digital asset collaboration with banking giants J.P. Morgan and DBS Bank as it looks to harness the benefits of decentralised finance (defi).

June 6, 2022

Deutsche Bank Exec Resigns Over Greenwashing Raid As ESG Becomes Key EBADay 2022 Topic

DWS, a subsidiary of Deutsche Bank, said its offices were raided by German police last week, as panellists in Vienna agreed that environmental, social and governance (ESG) issues are a priority for employees.

June 6, 2022

Czech Payments Industry To Launch Payments Using Mobile Phone Numbers

From next year, it will be possible to send a payment to someone else's account only with the knowledge of the owner's phone number, the Czech banking association has announced.

June 6, 2022

Queensland Eyes Wagering Tax Hike Amid Entain Protest

The Australian state of Queensland has proposed an increase in the point of consumption (POC) tax for wagering from 15 to 20 percent as part of a racing industry funding package that bypassed corporate bookmaker feedback.

June 6, 2022

Missouri Grey-Market Slots Company Owner Faces Illegal Gambling Charges

In a key test case for Missouri, the owner of a company that has distributed thousands of unregulated grey-market games to gas stations, convenience stores and other locations faces illegal gambling charges in Adair County in the northeastern part of the state.

June 6, 2022

Canadian Money-Laundering Report Submitted, Public Release Pending

The final report from British Columbia’s public inquiry into money laundering has been submitted to the provincial government, with officials reviewing the Cullen Commission’s report before its released to the public, a spokesman confirmed on Friday (June 3).

June 6, 2022

Chile's Tax Service Targets Online Gambling Over VAT

Chile’s Internal Revenue Service has declared it will enforce taxes against unregistered foreign companies, including gambling operators, that have not been paying value added tax (VAT) to the government.

June 6, 2022

Personnel Moves - May 2022

Rhodes confirmed as UK commission top dog, US treatment firm adds new directors, Okada Manila chair dies days before raid and Costa Rica renews regulators mandate.

June 2, 2022

Ohio Sports Betting To Launch In 2023

A multifaceted rollout that includes sports wagering kiosks at hundreds of retail locations means Ohio’s sports betting market will not go live until the latest legally possible date of January 1, 2023, regulators confirmed on Wednesday.

June 2, 2022

TheScore Exiting U.S. Sports Betting Market On Canada Day

Canadian sports betting brand theScore, which was acquired by Penn National Gaming last year, informed its customers Wednesday that it will shut down its U.S. sports betting operations on Canada Day, or July 1.