Insights Archive

September 12, 2024

Daily Dash: Ex-Swedbank CEO Gets Jail For AML Failures

A Swedish court has convicted former Swedbank CEO Birgitte Bonnesen of gross fraud over anti-money laundering failures in Estonia, while Poland's Data Protection Office has fined mBank PLN4m for GDPR violations.

September 12, 2024

Lithuania Demands Swift Action On Fraud Prevention And Transparency

The Bank of Lithuania is concerned about misunderstandings between financial institutions and customers, particularly regarding the cancellation and tracing of payment transactions, which often leads to complications in fraud cases.

September 12, 2024

ASIC Pilots New Application Portal For Australian Financial Services Licence

The Australian Securities and Investments Commission (ASIC) is testing a new online application portal for firms seeking to obtain an Australian Financial Services licence.

September 12, 2024

Operators Explain Wagering Limits To Massachusetts Regulators

Sports-betting operators argued Wednesday that individual limits to so-called “sharp players” affect a very small minority of users in response to concerns from Massachusetts regulators over the practice.

September 11, 2024

UK Advocates Call For Gambling To Be 'Permitted But Not Promoted'

UK campaigners for gambling advertising restrictions are pressing a slogan for their wishes: gambling should be “permitted but not promoted”.

September 11, 2024

U.S. Gaming Groups Question Proposed FinCEN Requirements

U.S. commercial and tribal gaming trade associations have expressed concerns about a new rule to strengthen federal anti-money laundering requirements under the Bank Secrecy Act.

September 11, 2024

Kazakhstan Introduces Host Of Changes To Gambling Regime

Kazakhstan’s government will establish a Committee for the Regulation of Gambling and Lotteries under the control of the Ministry of Tourism and Sports, which will be able to “independently and promptly address sectoral issues”, according to local media reports.

September 11, 2024

Regulatory Influencer: Singapore's New Fraud Rules

Singapore’s Ministry of Home Affairs has announced plans to introduce a Protection From Scams Bill intended to safeguard individuals at risk from online fraud. Published on August 30, the bill is designed to empower Singapore’s police to issue so-called restriction orders to banks.

September 11, 2024

How Helpful Is The European Central Bank's Direct Access Policy?

During the summer, the European Central Bank has been readying itself for changes to settlement finality in the eurozone as the Instant Payments Regulation begins to take effect.

September 11, 2024

FCA Consults On APP Fraud Approach In The UK

The UK’s Financial Conduct Authority (FCA) has launched a consultation to address rising concerns about authorised push payment (APP) fraud, where individuals are deceived into authorising payments to fraudulent accounts.

September 11, 2024

Credit Card Customers In India Can Now Choose Their Own Network

Exclusive deals between issuers and networks are now officially prohibited in India’s credit card market, as regulators look to reduce the dominance of Visa and Mastercard.

September 11, 2024

POGO Ban Kills Off Global Reach For PAGCOR Online Platform

Philippine gambling regulator PAGCOR’s preparations for privatisation of its casino chain are moving forward, but a senior regulator has said a ban on foreign-facing online gambling operations (POGOs) will also scuttle the regulator’s own online gambling platform.

September 10, 2024

Brazil Regulator Outlines Plans To Block Unlicensed Operators

The head of Brazil’s gambling regulator has laid out how they plan to combat illegal gambling as enforcement activities against unauthorised platforms and influencers heat up.

September 10, 2024

'Risk-Free' Gaming Machines Illegal In Kentucky, Warns Attorney General

The manufacturer of a new style of gaming terminal found in gas stations and convenience stores has turned them off in Kentucky after the state's attorney general issued an advisory warning that the supposedly risk-free games were illegal.

September 10, 2024

UK MPs Demand Government 'Swiftly' Implement White Paper Recommendations

A group of UK MPs have signed an early day motion calling on the government to “act swiftly” to implement the gambling reform white paper recommendations.

September 10, 2024

Daily Dash: China, Nigeria Announce Joint Agreement To Tackle Money Laundering

China and Nigeria have signed a series of agreements that include closer cooperation on tackling financial crime, while the Czech Republic is seeing a surge in fraud targeting bank customers.

September 10, 2024

UK Competition Watchdog Confirms Completion Of Open Banking Roadmap

The Competition and Markets Authority has confirmed the full completion of the Open Banking Roadmap, marking a pivotal moment in the evolution of UK banking.

September 10, 2024

Visa UK Announces Major Push Into Account-To-Account Payments

Visa has announced plans to launch a proprietary solution for account-to-account payments in the UK, with support from major banks and fintechs.

September 10, 2024

Wynn Forfeits $130m After Federal Probe Into Illicit Money Transfers

In a further sign of escalating federal enforcement of anti-money laundering violations by U.S. casinos, Wynn Resorts has agreed to forfeit a record $130m to avoid charges related to illegal money transmissions to facilitate gambling by foreign players at its flagship resort in Las Vegas.

September 9, 2024

U.S. Social Media Posts Broke Gambling Trade Group's Code, Study Says

A new academic study suggests that leading U.S. online gambling companies are not complying with voluntary codes for including safer-gambling messages for ads on social media, even though the companies meet those standards in paid-for advertising.

September 9, 2024

Missouri Judge Keeps Sports-Betting Measure On Ballot

A Missouri judge has ruled that a ballot measure to permit sports betting may remain on the ballot despite a legal challenge that attempted to invalidate it.