Insights Archive

March 14, 2022

European Regulators Face Up To EU’s De-Risking Problem

The EU stalwart problem of de-risking keeps on raging as new refugees stream in from bordering Ukraine and national regulators press the need for better collaboration with the private sector.

March 14, 2022

FinCEN on High Alert Against Russian Sanction Evasion Attempts

The Financial Crimes Enforcement Network (FinCEN) has issued a warning to all financial institutions asking them to be on the lookout for attempts to evade sanctions.<br />

March 14, 2022

Is Marriage Between U.S. Leagues And Sports Betting Headed For Divorce?

A Las Vegas gambling executive is sounding the alarm about the potential nightmare facing his industry and the nation’s professional sports leagues as they pursue their partnership in a quest for sports-betting gold.

March 14, 2022

Senior UK Doctors Demand Gambling Levy

The UK National Health Service’s most senior gambling addiction experts are calling for operators to pay a new multi-million-pound statutory levy to help prevent and treat problem gambling.

March 14, 2022

Philippine Taxman Targets Surging Online Cockfighting Revenue

Aggressive growth of e-sabong (online cockfighting) revenue in pandemic-stricken Philippines has drawn a lengthy demand from the Bureau of Internal Revenue for operators to pay their dues.

March 11, 2022

India Brings Instant Payments To Feature Phones

The Reserve Bank of India has launched UPI123Pay, a new initiative to help 400m legacy mobile phone users connect to its real-time payment system.

March 11, 2022

Japan’s Crypto Association To Introduce Travel Rule

Japan’s crypto-asset exchanges are set to soon join the likes of Germany, Singapore and France in complying with the travel rule standards.

March 11, 2022

FATF Changes Beneficial Ownership Rules

The Financial Action Task Force (FATF) has adopted timely amendments to Recommendation 24, considering both the Ukraine-Russia crisis and the Credit Suisse money laundering scandal, and its interpretive note dealing with beneficial ownership.

March 11, 2022

Week In Brief - March 11, 2022

A short roundup of some of the week's payments news you may have missed. This week we look at the latest developments in a UK class action lawsuit against Mastercard, UK attempts to deal with scam online advertising, new global fraud research and a $124m crypto fraud in the United States. We also look at concerns from the FCA over a new Binance investment.

March 11, 2022

Norway Regulator Orders Betsson To Stop Pitching Norwegians

Betsson will face “coercive fines” if it does not stop offering online gambling to Norwegian residents by March 25, the Norwegian Gambling Authority has said.

March 11, 2022

Washington Signs Off On Final Sports-Betting Rule

Sports betting became legal in the state of Washington as the coronavirus began closing tribal casinos in March 2020, but it was not until Thursday that the state gambling commission approved the last of the regulations.

March 11, 2022

Gambling Ads On Copyright Infringing Websites Falling, Says EU

A study by an EU watchdog appears to show a 55 percent reduction in the number of “major brand” gambling ads appearing on websites known to be infringing on intellectual property.

March 11, 2022

Biden Administration Opposes Wire Act Change To Expand Online Gaming Protection

The U.S. Department of Justice is asking a federal court in Rhode Island to dismiss a lawsuit by International Game Technology seeking to expand protection of the online gaming and lottery industry from prosecution under the U.S. Wire Act of 1961.

March 11, 2022

News In Brief: March 7-March 11, 2022

Tennessee adds three new operators and Philippines inquiry launched over cockfighting abductions.

March 10, 2022

Biden Signs Historic Digital Assets Executive Order

President Joe Biden’s long-awaited crypto executive order affirms crypto is to stay, and the United States wants to embrace it.

March 10, 2022

FATF Stops Short Of Action Over Russian Invasion

The Financial Action Task Force (FATF) expresses “deep sorrow” over Ukraine, but Russia’s largely compliant status makes it unlikely for FATF to pursue any meaningful action towards Russia in the short term.

March 10, 2022

EU Extends SWIFT Ban To Belarusian Banks

Belarusian financial institutions join Russia in being in the firing line over the Ukraine invasion, as the EU agrees on a further round of sanctions.

March 10, 2022

£28K Lost To APP Fraud Every Hour, Which? Suggests

Bank transfer scams continue to grip the UK, as the pressure piles on for the government and regulators to do more to solve the issue.

March 10, 2022

Ganapati's Taiwan Staff Avoid Jail Despite Online Convictions

A Taiwanese court has convicted 12 Japanese and Taiwanese employees of B2B online games supplier Ganapati for gambling offences, as well as company founder Hayato Kinoshita, although all have avoided jail time.

March 10, 2022

Nevada Esports Advisory Committee To Propose Regulatory Oversight

As sportsbooks in Nevada desperately searched for alternatives to traditional sports that were shut down during the initial months of the coronavirus pandemic, some operators have turned to video game competitions as one substitute.

March 10, 2022

Alabama Senate Committee Approves Plans For Lottery, Casinos, Sports Betting

Two pieces of legislation that would allow for five casinos, two satellite facilities, sports betting and create a gaming commission to regulate the industry in Alabama were passed out of committee on Wednesday and sent to the full Senate for consideration.