Insights Archive

September 10, 2024

Wynn Forfeits $130m After Federal Probe Into Illicit Money Transfers

In a further sign of escalating federal enforcement of anti-money laundering violations by U.S. casinos, Wynn Resorts has agreed to forfeit a record $130m to avoid charges related to illegal money transmissions to facilitate gambling by foreign players at its flagship resort in Las Vegas.

September 9, 2024

U.S. Social Media Posts Broke Gambling Trade Group's Code, Study Says

A new academic study suggests that leading U.S. online gambling companies are not complying with voluntary codes for including safer-gambling messages for ads on social media, even though the companies meet those standards in paid-for advertising.

September 9, 2024

Missouri Judge Keeps Sports-Betting Measure On Ballot

A Missouri judge has ruled that a ballot measure to permit sports betting may remain on the ballot despite a legal challenge that attempted to invalidate it.

September 9, 2024

U.S. Agency Seeks Emergency Ruling To Block Election Betting Contracts

The U.S. Commodity Futures Trading Commission has filed an emergency motion to block Kalshi, a financial exchange and prediction market, from offering election betting contracts in the wake of a court ruling in the company's favor.

September 9, 2024

ECB Argues For More Limited Role In EU Open Finance Legislation

The European Central Bank (ECB) has shared concerns about elements of the EU’s Financial Data Access Regulation (FIDA), which will pave the way for data sharing beyond payments in the trading bloc.

September 6, 2024

Regulatory Influencer: Israel's Regulator Eyes Innovation and Competition Through New Payments Law

The Bank of Israel (BoI) has enabled new domestic and international non-bank participants to access supervised payment systems, where previously this access was only granted to banks.

September 6, 2024

Week In Crypto: Trump Names CEO Of Tether Partner As Top Aide

Trump names a Tether partner as a leader of his transition team, Binance’s detained compliance executive begs for help in Nigeria, and a new report identifies the "most lucrative" crypto scams.

September 6, 2024

UK Regulator Urges Banks To Improve Payment Accounts Access

The Financial Conduct Authority has issued a call to banks, building societies and payment firms operating in the UK to do more to provide access to bank accounts, particularly for those who currently lack one.

September 6, 2024

Daily Dash: Three Wirecard Execs Ordered To Pay €140m In Damages By Munich Court

A bankruptcy court in Munich has ordered a €140m payout from three former Wirecard executives, while financial regulators in Qatar have announced the launch of the country’s first digital asset regulation.

September 6, 2024

News In Brief: September 2-September 6, 2024

A hub for online gambling and cyber scamming operations is being forcibly closed down by a regional ruling military group in Myanmar.

September 5, 2024

Legal Challenge To Missouri Sports-Betting Measure Set For Hearing

A first hearing will be held Thursday on a lawsuit that seeks to block a ballot measure to permit sports betting in Missouri from being considered in November’s election.

September 5, 2024

Svenska Spel Given €176,000 Penalty Fee For Bingo Hall Machine Violations

The Swedish Gambling Authority (SGA) has issued government-owned Svenska Spel a warning and a 2m Swedish krona (€176,000) penalty fee for violations linked to gaming machines at bingo halls.

September 5, 2024

UK Regulator Proposes Dropping APP Fraud Reimbursement Cap To £85,000

The Payment Systems Regulator appears to have bowed to industry pressure over its incoming authorised push payment (APP) fraud reimbursement rules, keeping the date the same but significantly reducing the cap for reimbursement from £415,000 to £85,000.

September 5, 2024

Daily Dash: Poland's BLIK Mobile Payments Platform Continues Slovakia Expansion

Poland's BLIK has announced that it can now be used to make e-commerce payments in Slovakia, while South Korea and Indonesia have agreed a launch date for a cross-border payments agreement using local currencies.

September 5, 2024

California Financial Institutions Face Fraud Liability Overhaul

The California state legislature has approved Senate Bill 278 (SB 278), a measure aimed at bolstering protections against financial abuse targeting the elderly and vulnerable.

September 4, 2024

PSR Proposes Dropping APP Fraud Reimbursement Cap To £85,000

The Payment Systems Regulator (PSR) appears to have bowed to industry pressure over its incoming authorised push payment (APP) fraud reimbursement rules — keeping the date the same but significantly reducing the cap for reimbursement from £415,000 to £85,000.

September 4, 2024

Daily Dash: Stricter Regulations Needed For Cash Services, Says Sweden's Riksbank

The central bank of Sweden has recommended that cash services be protected by additional regulation, while Cambodia has announced the launch of a new cross-border payments corridor with South Korea.

September 4, 2024

Payment Initiation Services The Key Focus As Saudi Arabia Unveils Latest Part Of Open Banking Framework

The Saudi Central Bank (SAMA) has officially released the second version of its Open Banking Framework, marking a significant step forward in the kingdom’s fintech landscape.

September 4, 2024

Colombian Operators Raise Alarm Over VAT Plan

The Colombian government’s plan to apply value-added tax to online gambling threatens to make the sector “completely unviable”, according to a leading trade association representing local operators.

September 4, 2024

Swedish Regulator Gains Power To Set Detailed Duty Of Care Requirements

The Swedish government has given the Swedish Gambling Authority the power to set detailed requirements for gambling licensees’ action plans for curbing excessive gambling, in a move set to take effect on October 1.

September 4, 2024

U.S. Gaming States Cracking Down On Offshore Gambling Sites

The recent efforts by state gaming regulators to prevent prominent offshore gambling websites, such as Bovada, from accessing consumers in their jurisdictions is an extension of state-level enforcement initiatives dating back several years, according to one policy expert.