Insights Archive

September 19, 2024

Card Schemes Sign Up For Project Agorá

Major payments players including Visa, Mastercard and Swift are among the private sector participants in the Bank for International Settlements tokenisation initiative.

September 19, 2024

Dutch Court Dismisses GDPR Request, Emphasising Precedence Of AML Laws

Neobank Bunq has emerged victorious in a court case centred on a customer’s data access request, in a decision that highlights the balance between EU citizens’ data privacy rights and compliance with anti-money laundering (AML) rules.

September 19, 2024

Daily Dash: Singapore Banks Introduce Singpass Face Verification To Fight Phishing Scams

Retail banks in Singapore have begun implementing a new facial recognition tool to protect customers from phishing scams, while the UK Financial Conduct Authority has said its access to cash programme is already showing signs of success.

September 19, 2024

Australia Toughens Game Ratings For Loot Boxes, Simulated Gambling

Australia’s federal government has toughened classifications for loot boxes and gambling content in video games, introducing compulsory advisories for loot boxes and mandating adult-only access to any simulation of gambling behaviour.

September 18, 2024

Nevada Gaming Regulation Denies Trespassers From Being Paid Winnings

The unwritten policy of licensed casinos paying so-called "trespassed customers" their gambling winnings has been observed by Nevada casinos for decades, but the scheme is set to be prohibited by gaming regulators.

September 18, 2024

Brazil Outlaws Grey Market In Surprise Strike

Operators in Brazil who have not already applied for a licence have been told they must exit the market completely by October 1, in a surprise announcement by the country’s regulator.

September 18, 2024

North Carolina Bans CBDC As Lawmakers Defy Governor's Veto

As expected, lawmakers in North Carolina have pushed through a bill that will ban the state from dealing in central bank digital currency (CBDC), in defiance of a gubernatorial veto.

September 18, 2024

Australian Banks Welcome Draft Legislation On Scams Prevention Framework

Australia’s banking industry has voiced its support for draft legislation that will introduce a mandatory Scams Prevention Framework, targeting key sectors including telcos and social media companies.

September 18, 2024

Nigeria Issues New Directives To Strengthen Payment Infrastructure

In a new circular, the Central Bank of Nigeria has introduced guidelines intended to improve the country’s payment infrastructure.

September 18, 2024

Payments A Key Focal Point As EU Commission President Sets Out Her Priorities

Ursula von der Leyen, now in her second term as European Commission president, has set out her plans for the new college, with her priorities including topics such as payments, data and AI.

September 18, 2024

Daily Dash: Tokenisation And Programmability Project A Success, Says UK Finance

UK Finance has declared the experimentation phase of its Regulated Liability Network a success, while Latvia has issued a public warning to an e-money institution due to compliance failures.

September 18, 2024

Sky Bet Sanctioned Over Invisible Cookies

The UK’s Information Commissioner’s Office has reprimanded the operator of Sky Bet over its use of internet cookies, more than two years after the initial complaint was made.

September 18, 2024

Japan Arrests Three Over Front Companies For Online Deposits

Osaka police have arrested three people on suspicion of running front companies to launder almost ¥5bn ($35.3m) in Japanese gambler funds linked to an alleged Curaçao-licensed website.

September 17, 2024

U.S. Gaming Regulators Have Few Options To Deter Illegal Sports-Betting Market

States with legal and regulated sports betting have a stake in cracking down on offshore sportsbooks, which they claim are operating illegally while evading taxes and consumer protections.

September 17, 2024

Fintechs Enthusiastic About Likely Impact Of The EU's AI Act

The EU’s AI Act, which came into force in August 2024, will be the first legal framework for the use of AI and, despite having to implement a new set of rules, payments professionals seem relatively pleased with the legislation.

September 17, 2024

'Chilling' Statistics Prompt UK Lawmakers To Demand Action On Fraud

The need to do better in tackling fraud has become a consensus issue across the UK political spectrum, with Labour, Conservative and Liberal Democrat lawmakers pushing the government to expand and improve the national approach to the issue.

September 17, 2024

Swedish Firms Facing Challenges As DORA Implementation Nears, Regulator Finds

As Sweden's financial sector gets ready for the EU’s Digital Operational Resilience Act (DORA), a report from the Swedish Financial Supervisory Authority reveals progress but highlights challenges, with payment service providers facing more obstacles than banks.

September 17, 2024

Daily Dash: Hungary Sees Surge In Instant Credit Transfers In Q2 2024

Hungary’s central bank has reported a rise of almost 30 percent in instant credit transfers, while Canada’s financial regulator has issued a fine against a Chinese-language money service business.

September 16, 2024

Player Advocates Maintain Concern On Operator-Imposed Limits

While U.S. operators maintain that the number of players who have individual wagering limits imposed on them is minimal, player advocates and responsible gaming advocates remain concerned about the process of those decisions.

September 16, 2024

Regulatory Influencer: Industry Debate Continues Over UK APP Fraud Reimbursement Cap

The UK’s Payment Systems Regulator has published a statement on the proposed Authorised Push Payment (APP) fraud reimbursement cap, along with a cost-benefit analysis of the regulator’s new APP fraud rules, based on findings from an ongoing industry consultation.

September 16, 2024

Daily Dash: Wells Fargo In Trouble With US Regulator

A US regulator has come to a formal agreement with Wells Fargo to address deficiencies in its financial crime controls, while Cyprus’ financial watchdog has released a policy to enhance customer onboarding for crypto asset service providers.