Insights Archive

September 24, 2024

Federal Legislators Slammed Over 'Half-Baked' Sports-Betting Comments

New Jersey’s former top gaming regulator and a key Massachusetts legislator have pushed back on accusations by federal lawmakers that states' sports-betting regulatory regimes are “faint-hearted and half-baked.”

September 24, 2024

UK Payment Providers Finalise Preparations For Fraud Reimbursement Rules

The Payment System Regulator’s new authorised push payment (APP) fraud reimbursement rules take effect on October 7, 2024, with many banks and payments firms still unprepared and unhappy, despite the regulator’s concession on the reimbursement limit.

September 24, 2024

German Authorities Shut Down 47 Crypto Exchanges Used For Criminal Activity

In a major crypto crackdown, the Frankfurt Public Prosecutor’s Office and the Federal Criminal Police Office have shut down a total of 47 crypto exchange platforms that were being used for illicit financial activities.

September 24, 2024

Daily Dash: PSR Publishes Guidance For Civil Disputes And App Scams

The UK's Payment Systems Regulator (PSR) has issued final guidance to help firms differentiate between authorised push payment (APP) scams and private civil disputes, and its sister regulator, the Financial Conduct Authority, has revoked PayAfrique.com Limited’s licence after compliance failings.

September 23, 2024

UK Gambling Commission, Police Make Illegal Gambling Arrest

A man was arrested in the UK on September 20 on suspicion of providing unlicensed gambling; however, details about the case remain scarce.

September 23, 2024

Advocates Of Ontario Model Making Slow Progress In Quebec

When Ontario opened its online gambling market to private operators in 2022, many in the industry hoped that it would start a wave of regulated regimes across Canada. Two years later, Alberta has taken steps to follow suit, announcing in June that it would launch its own regulated online gambling market.

September 23, 2024

Daily Dash: Trustly's Ecospend Retains Key Open Banking Contract With HMRC

The UK’s most significant open banking contract has been re-awarded to Trustly’s Ecospend, while the Payment Systems Regulator publishes updated powers and procedures guidance, and Switzerland's financial regulator has confiscated $15m from a local bank for "serious" AML failures.

September 23, 2024

Hurry Up With National Payments Vision, Industry Leaders Urge UK Government

The National Payments Vision is necessary for renewal, payments industry insiders have said, as they called on the authorities to act now to provide greater clarity and reduce complexity.

September 23, 2024

Cross-Sector Collaboration The Answer To Payment Fraud Epidemic, Says ERPB

A landmark report by the Euro Retail Payments Board (ERPB) Working Group on Fraud Prevention warns of a growing epidemic in retail payment fraud, and advocates cross-sector collaboration and data sharing to protect consumers across Europe.

September 23, 2024

Digital Wallets Harm Consumers By Easing Pain Of Paying, UK Body Warns

The rapid rise of digital wallets, while offering convenience to millions, is posing significant risks to consumers, the UK’s Financial Services Consumer Panel has told the country’s Financial Conduct Authority.

September 23, 2024

Peru Approves 'Unconstitutional' Consumption Tax For Online Gambling

Peruvian gambling lawyers have sharply criticised a new legislative decree to apply a consumption tax on online gambling turnover, but only for licensed operators based outside the country.

September 23, 2024

MGM Announces Casino Licence Application For Abu Dhabi

MGM Resorts International president and CEO Bill Hornbuckle has announced that MGM has applied for a casino licence in the United Arab Emirates, confirming the emirate of Abu Dhabi is its target location for an integrated resort.

September 20, 2024

Younger, Freer-Spending Gamblers Most Likely to Use UK Black Market, Study Says

Younger and heavier gamblers in the UK are most likely to use black market online gambling sites, according to a new survey commissioned by the Betting and Gaming Council.

September 20, 2024

Nevada Lawmaker Opposes Bill Putting Federal Regulations On Sports Betting

Although support for a bill to create a federal oversight structure for state-authorized sports betting may garner some support among members of Congress, Nevada Representative Dina Titus does not see it as an immediate threat to the industry.

September 20, 2024

News In Brief: September 16-September 20, 2024

Videoslots has fine massively reduced in Netherlands, a first German state approves private operators to offer table games online, Betfred leaves Arizona and Tabcorp loses more executives.

September 20, 2024

Bilateral Linkages 'Will Not Scale' For Cross-Border Payments, Says Fed Governor

A US central banker has expressed doubts as to whether bilateral faster payments linkages can solve cross-border payments challenges, pointing to scaling and implementation difficulties.

September 20, 2024

Week In Crypto: US SEC Files First Lawsuits Against Suspected Pig Butchering Scammers

A US regulator opens its first pig butchering cases, a Cambodian senator is placed under US sanctions for allegedly profiting from crypto scams, and Tether hires a former PayPal staffer.

September 20, 2024

Swiss Bankers Association Raises Concerns Over Cybersecurity Regulation

Although the Swiss Bankers Association has thrown its support behind a new draft Cybersecurity Ordinance, it says that clearer, more proportionate, rules are necessary.

September 20, 2024

Daily Dash: UK Regulator Urges Financial Firms To Prioritise Fair Value For Consumers

The UK’s financial regulator has called on firms to rethink their products and services from a fair value perspective, while Ireland looks to address a surge in young people serving as money mules.

September 19, 2024

AI Benefits Include More Comprehensive Responsible Gaming Picture, Panel Says

Gaming executives have said a principal benefit to the industry of artificial intelligence (AI) is allowing companies to gain a more complete picture of a player who may have responsible gambling issues that cannot be identified by just one potential red flag.

September 19, 2024

Dutch Industry Laments Budget Tax Hike

The three sometimes fractious Dutch gambling trade groups have put aside their differences to express dismay at government plans to hike taxes to almost 38 percent in the Netherlands.