Archived Insights

Gambling operators are struggling with their operations in the wake of Argentina’s ever-present inflation problem.

The Norwegian gambling regulator has ordered exclusive rights holders Norsk Tipping to pay a fee of NK4.5m (€382,521) after mistakenly paying a player NK25m, well above the NK5m jackpot limit. Atle Hamar, director of the Norwegian Lottery Authority (NLA), called the mistaken payment a “serious breach" and a “serious system failure”.

The Bank of Canada has announced that it will be "scaling down" its work on retail central bank digital currency (CBDC) while it attends to more pressing payment systems issues.

India has secured a new agreement to develop an instant payments system for Trinidad and Tobago, and has also attended the first meeting of a joint working group that aims to modernise the Philippines’ fintech sector.

A new report from the Danish competition regulator shows that Denmark’s Dankort solution is ceding its monopoly in the local payments market.

Canadian lawmakers continue to hear testimony from responsible gambling advocates, broadcasters and the gaming industry as they consider the fate of federal regulation that would establish a national framework for regulating the promotion of sports betting.

A leading business association has filed a petition with Brazil’s Supreme Court in an effort to overturn the landmark 2023 law that establishes a licensing regime for sports betting and online gaming.

This report is part of a four-part series analyzing the Retail Payment Activities Act and identifying key components of the law that payment service providers should consider when doing business in Canada. This report focuses on the requirement to register with the Bank of Canada, and the subsequent reports will focus on the remaining key requirements: operational risk management and incident response; end-user funds safeguarding; and mandatory reporting and recordkeeping.

Lithuania and the Netherlands have begun to enact key elements of the EU’s Instant Payments Regulation, while Sweden’s financial crime watchdog has released a new report setting out recommendations to tackle money laundering in the crypto market.

The Personal Information Protection Commission of South Korea has become the latest regulator to crack down on the Sam Altman-backed project, imposing a financial penalty and taking remedial action.

Assessing fair value has been a difficult task for payments and e-money firms operating in the UK as they get to grips with the Financial Conduct Authority’s Consumer Duty rules, panellists said during a Vixio webinar.

The US Department of the Treasury, in a coordinated effort with international partners, has launched significant actions aimed at disrupting Russian cybercrime networks and illicit virtual currency exchanges.

The UK’s Financial Conduct Authority (FCA) has unveiled its long-awaited proposals to overhaul the safeguarding regime for payments and e-money services.The proposals are now subject to a public consultation until December 17, and going forward, these compliance requirements will apply to all authorised payment institutions, e-money institutions, small e-money institutions and credit unions that issue e-money in the UK under the country’s payment services and e-money regulations.The changes aim to enhance consumer protection and market integrity by addressing what the regulator perceives as weaknesses in how firms safeguard customer funds.

Maryland regulators have approved a proposed regulatory change that would prevent operators from deducting promotional play from taxable sports wagering revenues.

Mergers and acquisitions experts are predicting that Brazil's incoming regulatory regime will “create room for a much longer tail” and be better for competition and innovation compared to the US market. 

The UK’s Gambling Commission is charging the multi-billion-dollar Premier League sponsor Sorare with illegally supplying unlicensed gambling.

This report is part of Vixio PaymentsCompliance’s Outlook series, which provides subscribers with forward-looking insights and consolidated research on key segments of the global payments industry.This edition is designed to provide high-level intelligence on European enforcement actions from H1 2024.

Financial Data Exchange (FDX) has submitted its application to the Consumer Financial Protection Bureau to become a US standard-setting body for open banking.

Latvijas Banka, the Central Bank of Latvia, has issued new regulatory rules in a bid to consolidate compliance requirements for customer due diligence.

Singapore’s regulator has announced a new international expert panel to improve operational resilience in the country’s financial sector, while Lithuania’s central bank is introducing changes to the country’s payment account regime.

Brazil operators agree to ban credit cards, Massachusetts bans some college sports bets, Nevada approves Sega Sammy merger and a former Philippines lottery official is accused of ordering an assassination.