Insights Archive

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.

February 23, 2022

Missouri Coalition Begins Push For Sports-Betting Compromise Bill

A coalition of Missouri professional sports teams and casinos began making their case Tuesday for a sports-betting proposal years in the making.

February 23, 2022

Sweden Fines Trustly Over 'Severe' Gambling AML Deficiencies

February 22, 2022

AI Governance ’Crucial’, Warn UK Financial Regulators

A new report published by the Bank of England and the Financial Conduct Authority has emphasised the need for oversight and standards in the City’s response to artificial intelligence (AI).

February 22, 2022

Fed Governor Cautious On Digital Dollar

In laying out a case for how a U.S. central bank digital currency could improve financial stability, the Federal Reserve Governor poses questions that will be on every central banker’s mind.

February 22, 2022

Open Banking Surpasses Five Million Milestone

There are now more than 5m active users of open banking services in the UK spurred on by greater interest in payments for government services.

February 22, 2022

India Exports Instant Payments System To Nepal

India’s Unified Payments Interface has expanded over the border to Nepal as the country’s national payments operator strikes a deal to deliver its popular instant payment service in the Himalayan country.

February 22, 2022

English Councils Want Power To Refuse Gambling Premises

Pressure continues to mount on the UK government ahead of the Gambling Act review white paper, as the Local Government Association and the Association of Police and Crime Commissioners join calls for tougher restrictions.

February 22, 2022

Chinese, Sihanoukville Officials Meet Ahead Of Crackdown

A senior Chinese diplomat in Cambodia has met Sihanoukville’s governor and local police ahead of a likely major crackdown on online gambling and telephony scam operations that have enslaved thousands of foreign workers.

February 22, 2022

U.S. Gaming Industry Seeks Updates To Federal AML Regulations

After rapid technology advancements and legal developments in recent years in the gaming industry, the American Gaming Association has said regulatory changes at the federal level are needed to address the growth of online gaming and sports betting.

February 21, 2022

Third Of UK Crypto Investors Under 18, Research Claims

Although the risks of the use and promotion of cryptocurrencies is often contextualised around adults, children may be just as vulnerable to crypto scams, influencers and market volatility.