Insights Archive

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.

September 19, 2024

Card Schemes Sign Up For Project Agorá

Major payments players including Visa, Mastercard and Swift are among the private sector participants in the Bank for International Settlements tokenisation initiative.

September 19, 2024

Dutch Court Dismisses GDPR Request, Emphasising Precedence Of AML Laws

Neobank Bunq has emerged victorious in a court case centred on a customer’s data access request, in a decision that highlights the balance between EU citizens’ data privacy rights and compliance with anti-money laundering (AML) rules.

September 19, 2024

Daily Dash: Singapore Banks Introduce Singpass Face Verification To Fight Phishing Scams

Retail banks in Singapore have begun implementing a new facial recognition tool to protect customers from phishing scams, while the UK Financial Conduct Authority has said its access to cash programme is already showing signs of success.

September 19, 2024

Australia Toughens Game Ratings For Loot Boxes, Simulated Gambling

Australia’s federal government has toughened classifications for loot boxes and gambling content in video games, introducing compulsory advisories for loot boxes and mandating adult-only access to any simulation of gambling behaviour.

September 18, 2024

Nevada Gaming Regulation Denies Trespassers From Being Paid Winnings

The unwritten policy of licensed casinos paying so-called "trespassed customers" their gambling winnings has been observed by Nevada casinos for decades, but the scheme is set to be prohibited by gaming regulators.

September 18, 2024

Brazil Outlaws Grey Market In Surprise Strike

Operators in Brazil who have not already applied for a licence have been told they must exit the market completely by October 1, in a surprise announcement by the country’s regulator.