Insights Archive

February 25, 2022

UK Government Outlines Latest Sanctions For Russia

Following on from Thursday's dramatic turn of events, Prime Minister Boris Johnson has outlined tougher implications for the Russian Federation.

February 25, 2022

Week In Brief - February 25, 2022

A short roundup of some of the week's payments news you may have missed. This week we look at the latest access to cash statistics in the UK, Singapore's decision not to intervene over credit card bank fees, crypto AML requirements in Belgium and the latest assessment of Nigeria's eNaira.

February 25, 2022

Ukraine’s Financial Markets Shiver In Wake Of Russian Attack

Ukraine has announced a number of temporary measures as people are rushing to cash machines to access their savings following Russia’s large-scale invasion of the country.

February 25, 2022

FCA Weighs Up Benefits Of Financial Inclusion Mandate

Regulators from the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England (BOE) have been probed by members of the UK’s Treasury Select Committee on how they can ensure less well-off communities are not financially excluded.

February 25, 2022

Looks Like Groundhog Day For California In Ugly Fight Over Sports Betting

Eight years ago, PokerStars launched an ill-fated campaign to bring online poker to California, and this year’s effort by DraftKings, FanDuel and other operators to legalize online sports betting in the Golden State appears to be eerily similar.

February 25, 2022

And They're Off: Churchill Downs To Exit Online Sports Betting

Churchill Downs Inc. announced Thursday that it will exit the U.S. online sports betting and online casino space within the next six months, arguably the most high-profile departure from the market since the country’s sports-betting boom began in 2018.

February 25, 2022

ANJ Wants Operators To Cut Back On Advertising

France’s gambling regulator (ANJ) has called on the gambling industry to “de-intensify” all forms of advertising, alongside releasing a series of new advertising guidelines and recommendations.

February 25, 2022

News In Brief: February 21-February 25, 2022

Brazil's landmark bill officially moves to the Senate, poll reveals tentative public support for California sports betting and Chinese officials in Cambodia push for crackdown.

February 24, 2022

All Or Nothing: EBA Criticises Differing Regulatory Responses After Luanda Leaks

The European Banking Authority has published the findings of its assessment of national competent authorities’ responses to the 2020 Luanda Leaks, claiming that regulators either went beyond what was necessary or did the opposite.

February 24, 2022

European Digital ID: A Mere Aadhaar Copy or Something More?

This regulatory analysis will examine India’s Aadhaar system and the EU’s proposed eID system. It will then compare these two systems and identify what this potentially means for firms in both these jurisdictions.

February 24, 2022

Cross-Border Payments Only Going To Be Solved By Collaboration, FSB Cautions

It is the belief of the Financial Stability Board (FSB) that cross-border transactions should be reduced in price, but this will only be sorted by solid public-private cooperation, its new chair has said.

February 24, 2022

AI Use Should Go Hand In Hand With More Transparency To Consumers And Regulators

Despite progress made by artificial intelligence (AI) in recent years, the lack of transparency in explaining outcomes of current models, as well problems with bias, can create a challenging scenario for firms.

February 24, 2022

BetVictor To Pay £2m Settlement Over AML, Social Responsibility Failures

BetVictor will pay a settlement penalty of just over £2m for failures in anti-money laundering (AML) and social responsibility policies, as well as fairness in terms and conditions, the UK Gambling Commission has said.

February 24, 2022

Brazil Places Major Bet On Gambling Expansion

In an historic vote, the lower house of Brazil’s Congress passed a sweeping gambling expansion bill late on Wednesday night to legalize land-based casino-resorts, video-bingo operations and online gaming across the country of more than 210m people.

February 24, 2022

Gambling Officials Expected To Speak At Suicide Inquiry

The UK Gambling Commission and the Department for Digital, Culture, Media & Sport are expected to give evidence in an ongoing inquest into the suicide of a person suspected of having an undiagnosed gambling disorder.

February 23, 2022

Boris Showers Russia With More Sanctions – But What Does It Mean For Payments?

The Foreign, Commonwealth and Development Office has updated the UK's Sanctions List to include five Russian banks and a fresh clutch of Russian oligarchs, all with the aim of deterring President Vladimir Putin from intimidating Ukraine. In view of recent changes to the UK's sanctions rules, however, it is a wonder that more was not done.

February 23, 2022

Fintech Lobby For Change On Kalifa Anniversary

Now is the time for even bolder action to realise the Kalifa Review vision, industry players tell the UK government in a letter pushing for a regulatory overhaul.

February 23, 2022

Sweden Fines Trustly Over ’Severe’ Gambling AML Deficiencies

Sweden’s Financial Supervisory Authority has given Trustly Group and ClearOn payments processors fines and warnings for “severe” anti-money laundering (AML) deficiencies, with Trustly’s violations involving gambling infractions.

February 23, 2022

Malaysian Operator Targets Start-Ups To Tackle Financial Exclusion

PayNet, the national payments network, has launched a three-month fintech e-payments accelerator scheme. The programme aims to incentivise fintechs to help improve financial inclusion in Malaysia through addressing three problem statements.

February 23, 2022

ECB Sets Out Wishlist For EU AML Legislation

With the EU’s new anti-money laundering (AML) legislation hurtling towards reality, the European Central Bank (ECB) has greeted proposals for a new AML authority but has been more cautious about crypto definitions and incoming cash limits.

February 23, 2022

U.S. Supreme Court Justice Asks If Seminal Indian Gaming Case Should Be Scrapped

In an unusually lengthy hearing of more than an hour and a half on Tuesday in the U.S. Supreme Court, Justice Neil Gorsuch raised the possibility of overturning a landmark 1987 decision which led to the enactment of the Indian Gaming Regulatory Act of 1988.