Insights Archive

September 24, 2021

News In Brief - September 24, 2021

The California Privacy Protection Agency has swung into action by asking the public to submit comments related to any area on which it can issue rules. It is especially keen to hear suggestions about any regulations that it might make in accordance with the California Consumer Privacy Act 2018.

September 24, 2021

Lottoland Fined, Warned Over UK Failings

Lottoland has been fined £760,000 by the UK Gambling Commission, handed a formal warning and faces new licence conditions for failures in social responsibility and money laundering.

September 24, 2021

Nevada Operator Accepted Hundreds Of Improper Sports Bets, Regulator Says

Nevada gaming regulators have filed a complaint accusing Las Vegas-based Station Casinos of accepting hundreds of wagers on sports after the game’s outcome had been determined.

September 24, 2021

Tipico Fined In The Netherlands For Operating Without A Licence

The Netherlands Gambling Authority has fined Tipico, the Germany-focused sports betting operator, for operating in the Netherlands without a gambling licence.

September 24, 2021

No Future For The Risky VIP Business Model, Say Industry Leaders

Gambling industry CEOs want their businesses to be seen as entertainment providers, as they attempt to shift away from the regulatory scrutiny driven by VIP-based business models.

September 24, 2021

News In Brief: September 20-September 24, 2021

Sweden's regulator maintains its position on toughening advertising rules, Playtech ties up a Brazilian partnership and new gambling taxes are approved in the Philippines.

September 23, 2021

Coinbase Caves In...Surreptitiously

Coinbase has discontinued its Lend scheme, by which it planned to award users interest on the crypto-coins that they keep on its platform that they do not wish to trade at any particular moment. It has done so in a quiet update to a months-old blog post.

September 23, 2021

APP Fraud Spirals Upwards In UK

Fraud losses have risen by 30 percent, with a new emphasis on authorised push payment (APP) fraud, according to trade association UK Finance.

September 23, 2021

Treasury Ransomware Action Puts Companies On Alert

The U.S. Department of the Treasury has taken its first action ever against a crypto-company for laundering cyber-ransom money. Meanwhile, its Office of Foreign Assets Control has updated an advisory note that pertains to ransomware.

September 23, 2021

U.S. Congress Urged To Regulate The What, Not The How, Of Open Banking

Members of the public have asked U.S. lawmakers not to over-regulate the sharing of financial data and leave it to the financial sector to develop technical standards for open banking.

September 23, 2021

UK Gambling Commission Apologises After Damning Football Index Report

The UK Gambling Commission has apologised after an independent report slammed the regulator for not acting quickly enough to scrutinise soccer trading platform Football Index before its collapse.

September 23, 2021

UK Betting Industry Welcomes New Minister

The UK betting industry has reacted warmly to the appointment of Chris Philp as the new minister overseeing the gambling sector.

September 23, 2021

Dutch Crackdown Demolishes 'Passive' Strategy For Gambling Licence

A Dutch minister’s announcement that a passive presence in the Netherlands will no longer be allowed after licensing launches on October 1 has thrown the plans of international operators into turmoil.

September 23, 2021

Industry Protests Karnataka Online Gaming Ban

Technology sector heavyweights have urged the Chief Minister of the Indian state of Karnataka state to exempt skill gaming from this week's sweeping new ban on online gaming with stakes.

September 23, 2021

Maryland Sports Betting Could Launch By 'Late Fall' 2021

Maryland’s top gaming regulator said his agency hopes to have the state’s first legal sports bets placed before the end of the year.

September 22, 2021

Irish Bill Aims To Make Financial Managers More Accountable

The Irish version of the UK's Senior Managers and Certification Regime (SM&CR) is on the stocks, with finance minister Paschal Donohoe having approved the drafting of the Central Bank (Individual Accountability Framework) Bill whose main purpose is to improve accountability in the financial sector.

September 22, 2021

ISO 20022 Is More Than A Compliance Issue, It Is An Opportunity

International messaging standard ISO 20022 is more than just a compliance issue. Its adoption could open the door to new opportunities which can help to streamline compliance, experts say.

September 22, 2021

Regulators Do Not Know How To Monitor Platformisation, Warns EBA

The platformisation of the financial services industry has become a problem for regulators to supervise, the EU’s banking watchdog has said, because they do not understand it.

September 22, 2021

Gambling Harm Report Offers Policymakers Huge Evidence Base

A voluminous academic report written to inform the UK’s national gambling strategy has noted the effectiveness of the whistle-to-whistle ad ban, but warned that social media is replacing TV as the most dangerous arena for underage gambling ads.

September 22, 2021

Brazil Gambling Expansion Back On The Agenda

A new special commission formed in Brazil’s Chamber of Deputies is the latest sign of momentum returning for long-stalled legislation to regulate casinos, bingo halls and online gambling in one of the world’s largest untapped markets.

September 22, 2021

DraftKings Targets Entain Takeover With $22.4bn Offer

Entain confirmed on Tuesday that DraftKings had approached the company with a $22.4bn proposal to acquire the group, but U.S. partner MGM Resorts quickly warned both companies that any deal requires its approval first.