Insights Archive

October 18, 2024

Australia Threatens To Ban Surcharging In New Payments Review

Australia’s payments industry faces a major rethink of its costs and fee structures, as the Albanese government threatens to ban the practice of surcharging.

October 18, 2024

Week In Crypto: TD Bank AML Failures Linked To UK Crypto Exchange

A UK crypto exchange gets caught up in TD Bank’s money laundering case, a detained Binance executive is denied bail in Nigeria, and Tether’s largest customer is sued in the US.

October 18, 2024

EU Authorities Challenge Commission’s Changes To DORA And MiCA Standards

The European Commission’s positions on aspects of implementing both the Digital Operational Resilience Act (DORA) and the Markets in Crypto Assets (MiCA) regulation have prompted a backlash from key European regulators.

October 18, 2024

Ireland Pushes To Address Account-To-Account Gap In New Payments Strategy

The Irish government has unveiled the country’s new National Payments Strategy (NPS), which challenges both regulators and industry to modernise and increase competitiveness in the payments ecosystem.

October 18, 2024

Daily Dash: New US FTC ‘Click-To-Cancel’ Rule Will End Subscription Traps

The US Federal Trade Commission (FTC) has unveiled a new rule that will penalise sellers for trapping customers in subscriptions, while the Financial Stability Board has opened a new consultation on operational incident reporting.

October 18, 2024

News In Brief: October 14-October 18, 2024

Peru has told registered suppliers they must stop serving unlicensed operators.

October 17, 2024

California Tribal Leaders Take Aim At Sweepstakes, DFS

California tribal gaming leaders have reinforced their belief that daily fantasy sports (DFS) and sweepstakes companies are operating illegally in the Golden State, and say they are taking legal steps to protect their gaming exclusivity.

October 17, 2024

Irish Lottery Penalised €23,000 Due To Licence Breach

Ireland’s National Lottery regulator confirmed it withheld €23,000 from operator Premier Lotteries Ireland (PLI) due to a licence breach, which saw some players told their tickets were not a winner, when in fact they had won.

October 17, 2024

Regulatory Influencer: Dubai Reviews MSPs’ Management of Operational Risk

The Dubai Financial Service Authority (DFSA), the regulator of financial services conducted in or from the Dubai International Financial Centre (DIFC), has conducted a review of regulatory compliance and vulnerabilities at money service providers (MSPs) in the DIFC.

October 17, 2024

France Targets Fraud, Sustainability And Payments Sovereignty With New Five-Year Plan

French authorities and payment industry leaders unveiled a new national payments strategy for 2025–30 during a key meeting of the National Committee for Means of Payment (CNMP).

October 17, 2024

Ireland's New Gambling Law Finally Passed

Ireland’s long-awaited Gambling Regulation Bill 2022 has finally been approved by lawmakers, 68 years after Ireland’s current primary gambling law was introduced.

October 17, 2024

Star Entertainment Fined $10m, Avoids NSW Licence Termination

Australian casino operator The Star Entertainment Group has been fined A$15m ($10m) and ordered to implement fiscal and operational reform over compliance failures at its Sydney casino, but has dodged the bullet of licence termination.

October 16, 2024

Sweepstakes In The Spotlight For U.S. Gaming Industry

Regulated gaming companies, suppliers and investors are receiving conflicting advice to embrace opportunities in sweepstakes gaming, but also wake up to the regulatory risks of participating in the fast-growing sector.

October 16, 2024

Rhode Island Considers Expanding Sports-Betting Market

The Rhode Island Lottery plans to conduct a wide-ranging study of the state's sports-betting market to determine if allowing multiple operators would increase tax revenues.

October 16, 2024

Polish National Lottery Dismisses Its President Over Political Appointments

Poland’s national lottery operator and online casino monopoly Totalizator Sportowy has dismissed the president of its management board over allegations of political cronyism.

October 16, 2024

Regulatory Influencer: Australia Looks To Set Example In Stopping Scams At Source

Under its new Scams Prevention Framework, Australia is hoping to become one the first jurisdictions in the world to impose statutory anti-scam controls on non-financial businesses.

October 16, 2024

‘We Take Fraud Incredibly Seriously’ — Revolut Responds To BBC Panorama Exposé

Revolut has hit back at a BBC documentary that accuses the firm of “prioritising growth ahead of protecting customers”, saying that it takes complaints of fraud “incredibly seriously”.

October 16, 2024

Criminalise Unlicensed Crypto Platforms To Fight Fraud, Says UN

The UN Office on Drugs and Crime (UNODC) has urged lawmakers in Southeast Asia to make it a criminal offence to operate a crypto or money services business without a licence.

October 16, 2024

European Payments Council Unveils Verification Of Payee Scheme

The European Payments Council (EPC) has officially published the first version of the Verification of Payee (VOP) scheme rulebook, following a public consultation.

October 16, 2024

Daily Dash: Santander Launches A2A Payments Partnership In UK With Token.io

Santander has partnered with account-to-account (A2A) provider Token.io to bring open banking payments to retail customers, while Brazil has begun accepting applications for the second phase of its central bank digital currency pilot.

October 16, 2024

German Regulator Wins Ruling Against Swiss Payments Firm Over Illegal Gambling

Germany’s Joint Gambling Authority of the Federal States (GGL) has said that an administrative court confirmed its decision to bar a payments service provider based in Switzerland from facilitating transactions for illegal gambling offers.