Insights Archive

March 22, 2022

Unregulated Skill-Games Operators In Virginia Face Criminal Charges

In the latest battle in a fierce war over unregulated gaming devices, operators of supposedly skill-based games in a rural Virginia county have been given 15 days to cease operations, or face being charged with a felony, according to a letter issued by the local county attorney’s office.

March 22, 2022

Camelot Fined £3m Over App Glitches

The UK’s soon to be replaced National Lottery operator Camelot has been fined £3.15m after it sent marketing messages to thousands of at-risk players, among other problems linked to its mobile app.

March 21, 2022

Ukraine Embraces Crypto In Resistance Against Russia

Ukraine has adopted a law legalising cryptocurrencies after its usage has helped the country hold up its defences against Russian aggression.

March 21, 2022

Brace For Impact: The UK’s New Dirty Money Laws

The long-awaited Economic Crime Bill has received royal assent and will begin to feed into compliance decisions, but just how much will change and how easy will it be to enforce?

March 21, 2022

ECB Looking For Experts For Digital Euro Design

The European Central Bank (ECB) is looking for technology experts to investigate the design of a potential eurozone central bank digital currency.

March 21, 2022

FCA Hunts For Crypto Chief As It Redoubles Focus On The Emerging Tech

In a move that highlights the growing regulatory focus on crypto-assets, the UK's Financial Conduct Authority (FCA) has begun a search for a new head to lead a department dedicated to the supervision of crypto-related businesses.

March 21, 2022

Taiwan Court Convicts Two For Online Gaming Customer Support

A Taiwanese court has convicted two Suncity-linked individuals of providing customer support for a live baccarat website out of the Philippines, offering a first hard indication that broad junket-style gambling services breach Taiwanese law.

March 21, 2022

Kentucky House Passes Sports-Betting, Grey-Market Games Bills

Kentucky took a step toward legalizing sports betting and banning grey-market slot machines on Friday after the state's House of Representatives approved two bills, but left decisions on proposals to establish a problem gambling fund and reset taxes on pari-mutuel wagering for another day.

March 21, 2022

Chancellor Raises Racing Industry Concerns Over UK Gambling Review

Chancellor Rishi Sunak has raised concerns that the review of UK gambling laws could have a dramatic impact on the racing industry.

March 18, 2022

German Competition Watchdog To Allow Further Development Of Giropay

The Bundeskartellamt, Germany’s antitrust authority, has said it has no objections to the further development of the giropay online payment system after the payment service provider conceded on initial plans for an exclusivity agreement.

March 18, 2022

Week In Brief - March 18, 2022

A short roundup of some of the week's payments news you may have missed. This week we look at further growth of UK contactless payments, the United States spearhead’s Russian oligarch taskforce, the exemption of Australian banks from crypto registration and whether the EU might crackdown on use of personal data for targeted advertising.

March 18, 2022

NY Regulator Fines MoneyGram For AML Failures

MoneyGram has been slapped with a fine after it failed to properly supervise agents engaging in suspicious transactions to China, New York’s state regulator has announced.

March 18, 2022

Ohio Regulators Not Expecting To Max Out Sports-Betting Licenses

Despite a plethora of opportunities for sports-betting operators to gain access to the lucrative Ohio market, gaming regulators expect the Buckeye State to ultimately follow in line with established U.S. jurisdictions.

March 18, 2022

Federal Probe Delays Diller, IAC Licensing For MGM Resorts Investment

The Nevada license application for investor Barry Diller was returned to staff Thursday for further investigation after a decision on his suitability and approval of IAC/InterActiveCorp’s $1bn investment in MGM Resorts International was put on hold due to a federal probe into stock option trades.

March 18, 2022

Star Casino Inquiry Alleges Massive Masking Of Gaming Funds

A regulatory review of The Star Entertainment Group’s casino licence in Sydney has started dismally for the company, with the inquiry accusing it of masking hundreds of millions of dollars in gambling funds to avoid breaching bank agreements.

March 18, 2022

Dutch Advertising Restrictions Inbound

The Netherlands is planning to introduce more gambling advertising restrictions, including a ban on non-targeted online ads and the use of celebrities in promotions, in response to political concerns.

March 17, 2022

The Right Balance? Payments Insiders React To CMA’s VRP Clarification

The UK's Competition and Markets Authority (CMA) has published its standards for what sweeping can and cannot be used for when variable recurring payments (VRPs) are introduced in July this year.

March 17, 2022

France’s Prudential Supervisor Outlines PSD2 Review Wishlist

In its new report, the ACPR, France’s prudential regulator, has laid out what needs to be addressed in the upcoming review of the revised Payment Services Directive (PSD2), while also highlighting the issues that the payments ecosystem currently faces.

March 17, 2022

Complex Regulation Drives Soaring UK Compliance Costs

UK banks pay billions to ensure compliance with anti-money laundering regulations, but the mounting regulatory pressure may push businesses over the tipping point, a report has warned.

March 17, 2022

Super Apps, BNPL, Crypto Are Now Global Payments Trends

FIS’ annual survey of global payments says the rules that once limited those participating in money movement have been rewritten as payments continue to be redefined, revisited and reimagined. In Europe, this includes buy now, pay later (BNPL) entering the mainstream, and continued leadership in real-time payments and open banking.

March 17, 2022

Gambling Costs Norway Over €520m, Says Study

Problem gamblers cost Norwegian society NOK5.1bn (€520.5m), according to a survey undertaken by the National Competence Center for Gambling Research at the University of Bergen.