Insights Archive

June 21, 2024

Daily Dash: UK FCA Cancels Licence Of Payment Firm Global 4X

Global 4X has lost its UK licence after four years of inactivity, while DNA Payments has launched a POS solution that allows merchants to accept open banking payments via consumer mobile banking apps.

June 21, 2024

Philippine Military Lobby Demands Ban On POGOs

Opposition in the Philippines to foreign-facing online gambling operators (POGOs) is spreading to military networks, with an influential group for retired senior officers calling for the closure of POGOs over threats to national “values and security”.

June 20, 2024

Lithuanian Lawmakers Approve Gambling Tax Increase

Lithuanian lawmaker's plans to increase gambling taxes to fund addiction prevention measures cleared a major hurdle after members of the country’s legislative body voted to approve it this week.

June 20, 2024

Regulatory Influencer: Bank of Italy Requires PSPs to Review Their Practices When Dealing with Customers Who Do Not Recognise Unauthorised Payment Transactions

Following investigations, the Bank of Italy has published a communication to payment services providers (PSPs) regarding their practices when handling unauthorised payment transactions that are not recognised by the payment service user. The communication highlights PSPs’ practices that have raised the Bank of Italy’s concerns, as well as expectations from PSPs.

June 20, 2024

AI Consultation Open To EU Financial Services Companies

The European Commission has asked financial services companies to provide information that will inform its regulation of artificial intelligence (AI) in the sector.

June 20, 2024

Daily Dash: Riksbank Plans To Adopt European T2 Platform For Payment Settlement

Sweden’s Riksbank has confirmed that RIX-RTGS will soon integrate with Europe’s T2 technical platform, while Singapore and Cambodia have announced the go-live of a joint Financial Transparency Corridor.

June 20, 2024

Racing Should Not Get Carve-Out From UK Risk Checks, Executives Say

Racing should not get an exemption from planned gambling financial risk checks it finds troublesome for its bettors, officials have said.

June 20, 2024

Ontario Jobs Report Draws More Praise For Province's Private Model

With Ontario’s regulated and private online gaming market now more than two years old, and with more data coming out to back the model’s success, government officials and industry leaders say the model is one that future provinces should look to replicate.

June 20, 2024

Brazil's Land-Based Gambling Bill Passes Key Senate Test

The Brazil Senate's Constitution, Justice and Citizenship Committee has approved a sweeping gambling expansion bill to legalise casinos and bingos across the country.

June 19, 2024

Tribes Gain Online Betting Advantage From U.S. Supreme Court's Florida Decision

The U.S. Supreme Court's decision not to review the landmark compact between the Seminole Tribe and state of Florida reaffirms the new model for how tribes in various states might conduct state-wide mobile gaming under federal law, according to tribal gaming law experts.

June 19, 2024

Chile Online Operators Urge Regulator Overhaul

Chile’s unlicensed online operators are calling for “modernisation” of the national gaming regulator, the Superintendence of Casino Gaming.

June 19, 2024

Danish Supplier Licensing Turns Spotlight On Aggregators

Aggregators may need to apply for supplier licences in Denmark if they have compliance oversight for the games they supply, as the industry prepares for a new 2025 regulatory regime.

June 19, 2024

Irish Study Recommends Ad Restrictions, Rapid Age Verification

Ireland should introduce restrictions to reduce underage exposure to gambling, according to an Economic and Social Research Institute (ESRI) report that found strong links between childhood experiences of gambling and problem gambling in adulthood.

June 19, 2024

Apple Pay Later Meets An Early Demise

Apple is scrapping its highly anticipated buy now, pay later (BNPL) service as key jurisdictions move towards regulating BNPL in the same way as other credit products.

June 19, 2024

Wholesale CBDC Issuance Set To Accelerate In Coming Years, Says BIS

Over the next six years, central banks are more likely to issue wholesale central bank digital currencies (CBDCs) than retail CBDCs, a new report from the Bank for International Settlements (BIS) has found.

June 19, 2024

Phoenix Payments Hit With Hefty Fine In Latest Lithuania Crackdown

The Bank of Lithuania has signalled its commitment to tightening compliance in the payments and e-money sector, handing out fines totalling more than €1m for breaches of compliance.

June 19, 2024

UK Tribunal Allows Interchange Fee Lawsuits Against Visa And Mastercard To Proceed

Any merchant accepting card payments in the UK can now bring a claim against card network operators under a ruling by the Competition Appeal Tribunal.

June 19, 2024

Daily Dash: India Aims To Fight Fraud Through Central Bank 'Payments Intelligence Platform'

India has proposed the creation of a digital payments intelligence platform that will be used to fight fraud, while the UK’s Financial Conduct Authority has imposed restrictions on e-money firm AstroPay.

June 18, 2024

European Authorities Issue Warnings To Public Over Euros Gambling

As the UEFA European Football Championship kicks off, European gambling regulators have warned about sports gambling with illegal operators and the risk of addiction.

June 18, 2024

Thailand Seeks Applicants For Programmable Payments Trial

Financial institutions have the opportunity to work with the Bank of Thailand on exploring the potential of smart contracts and distributed ledger technology in payments as part of a new regulatory sandbox project.

June 18, 2024

EU Transfer Of Funds Regulation Needs Better Market Surveillance, Dutch Minister Says

The Dutch minister of finance has formally requested the European Commission to consider amending the Transfer of Funds Regulation to better facilitate market surveillance and consumer protection operations.