Insights Archive

May 19, 2022

It’s No Time For Complacency As Experts Discuss Future Of UK Payments

As mobile-first payments are proliferating in the UK and the New Payments Architecture continues to progress, industry experts discuss new opportunities in the rapidly changing payments landscape.

May 19, 2022

Philippines To Launch Request To Pay And Bill Pay In Digital Push

As the Central Bank of the Philippines (BSP) sets out plans to launch three new e-payment streams, Congress has announced it will adopt a new law to ensure consumers are protected from increased digital payments adoption.

May 19, 2022

Specialist Police Payment Unit Prevents Record-Breaking Fraud

A UK police unit that targets organised criminal gangs behind fraud prevented a record of £101m from being stolen in 2021 — the highest amount in the unit’s 20-year history.

May 19, 2022

U.S. States React As Tax Breaks On Promo Play Reach Nine Figures

Allowances for tax deductions for free bets and other promotional play lost U.S. states more than $120m in potential tax revenue in 2021, and some states are pushing back against unlimited deductions.

May 19, 2022

Tougher NSW Penalties Flagged After PointsBet, DeluxeBet Fines

BetDeluxe and PointsBet are the latest in a long line of corporate bookmakers to be fined in New South Wales (NSW) state for illegal gambling inducements as the state government warned it will seek tougher penalties from the courts.

May 19, 2022

It's When, Not If, Cyber Attacks Strike U.S. Gaming Companies

The U.S. gambling industry remains wide open to cyber attacks despite an accumulation of years of incidents, according to a former assistant U.S. attorney.

May 19, 2022

Irish Gambling Bill Should Be More Restrictive, Committee Says

Ireland’s General Scheme of the Gambling Regulation Bill should include many more restrictions and consumer safeguards, including a pre-watershed gambling advertising ban, according to a joint parliamentary committee.

May 19, 2022

News In Brief: May 16-May 20, 2022

UK Gambling Commission acts against bookmaker Goldchip, Puerto Rico prepares to audit Light & Wonder's lottery operations and Dominican Republic moves against its scandal-ridden lottery operation.

May 18, 2022

DOJ Files First Case Alleging Crypto Use In Sanctions Evasion

The Department of Justice (DOJ) has accused a US individual of using cryptocurrency transfers to evade sanctions.

May 18, 2022

Jack Dorsey Strikes Down FTX Founder Over Bitcoin Payments Scaling Problem

The CEO of Block and ex-CEO of Twitter has hit back at Sam Bankman-Fried, founder of crypto exchange FTX, for claiming that bitcoin has no future as a payments network.

May 18, 2022

Ireland Becomes Unexpected First Mover For BNPL Regulation

Ireland’s central bank has confirmed that it will be applying its consumer protection rules to buy now, pay later (BNPL) firms among other services.

May 18, 2022

Cyprus Launches UBO Register

The Cyprus Securities and Exchange Commission has announced the launch of its online platform for the Cyprus Beneficial Ownership Register of Express Trusts and Similar Legal Arrangements (CyTBOR).

May 18, 2022

Swedbank Faces Potential Investigation Over IT Disturbances

The Swedish financial watchdog, Finansinspektionen (FI), has announced that it is appointing an external auditor to map out a "substantial IT disturbance" at one of the country’s largest retail banking institutions.

May 18, 2022

Sweden Moves Ahead With B2B Licensing Plans

The Swedish government has submitted a series of proposals, including licensing gambling software companies, prohibiting the promotion of illegal gambling and changes in requirements for “moderation” in marketing, to help protect children and the vulnerable.

May 18, 2022

U.S. Attorney Warns Casinos Not To Sleep On Money Laundering

Even if they are victims of money laundering schemes, casinos can find themselves facing criminal charges if their safeguards against financial fraud fail to meet federal standards, the U.S. attorney for New Jersey said Tuesday.

May 18, 2022

Spain Reveals €58m In Online Fines Issued Last Year

The General Directorate for the Regulation of Gambling (DGOJ) in Spain has said it closed 13 online gambling sites and sanctioned another six in 2021, publishing the information publicly for the first time. The fines issued to the 19 companies totalled more than €58m.

May 18, 2022

SPAC Deals Stall As U.S. Regulator Proposes Tougher Oversight

Deals involving special purpose acquisition companies (SPACs) exploded amid investor enthusiasm to tap into an expanding U.S. sports-betting market, but concerns of industry profitability and tighter regulations threaten to restrict future SPAC buyouts.

May 17, 2022

US Launches National Strategy To Close AML Loopholes

The new US national illicit finance strategy sets out four priorities to address existing loopholes in the country's regulatory framework, including those related to cryptocurrencies, beneficial ownership and gatekeeper professions.

May 17, 2022

EBA Publishes New RTS On Crowdfunding Service Providers

The European Banking Authority (EBA) has published its final draft of regulatory technical standards (RTS) specifying the information that crowdfunding service providers need to provide to consumers.

May 17, 2022

Agreement And Compromise: Data Governance Act And NIS2 Take Step Forward

Political agreement on new cybersecurity rules brings the EU's data strategy a step closer to its 2023 deadline, while compromise is reached on the second Network and Information Systems Directive (NIS2).

May 17, 2022

Philippines President Issues Executive Order On Digital Payments, As Central Bank Steps Up Fight Against Fraud

President Rodrigo Duterte has issued an executive order mandating all public agencies to offer digital payment options, while the Philippines central bank is cracking down on fraud.