Insights Archive

September 13, 2024

Australia Unveils Sweeping AML Reforms

The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 represents a major overhaul of Australia’s financial crime framework.

September 13, 2024

US Payments Regulation In The Context Of An Election Year

The US election cycle is entering its final stretch, which is a good time to take a look at how Vixio has covered some of the key regulatory issues that have been on the agenda during the campaign season.

September 13, 2024

Daily Dash: UK Crypto Bill Enhances Ownership Rights

New legislation in the UK looks to offer a clearer legal status and protections for crypto-assets, while eToro has reached a $1.5m settlement with a US regulator and will stop trading crypto-assets.

September 13, 2024

US Regulator Calls For Feedback On Apple's New Tap-To-Pay Policies

Following Apple’s announcement that it will open up its payments ecosystem to third parties, the Consumer Financial Protection Bureau has asked whether the move constitutes a "meaningful shift" from the company’s former practices.

September 13, 2024

U.S. Treasury Sanctions Gambling-Linked Cambodian Senator

The U.S. Treasury has sanctioned Cambodian mogul, senator and ruling Hun family confidante Ly Yong Phat and five associated businesses, making Ly the most senior gambling-linked political identity subject to Magnitsky sanctions in the Southeast Asia region to date.

September 13, 2024

New Federal Bill Seeks Ban On In-Play Betting

New federal legislation introduced in the U.S. Congress on Thursday proposes a radical redrawing of the regulated sports-betting market by banning all in-play bets, mandating affordability checks, and severely restricting marketing practices.

September 13, 2024

Key Political Figures In Brazil's Battle For Land-Based Gambling

As the land-based gambling Bill 2234/2022 awaits its fate in Brazil’s Senate, the same names surface time and again in debates over the future of casinos. Vixio takes a look at some key players in the Senate who could direct the fate of casinos and bingo halls in the country and, equally, who will not have a say.

September 12, 2024

Dutch Regulator Will Penalise Licensee Over Insufficient Information

The Netherlands Gambling Authority has placed a penalty payment order of up to €250,000 on one of its licensees for supplying inadequate information following a takeover by a foreign company.

September 12, 2024

UK Licensees Encouraged To Sign Up To Single Customer View Scheme

UK operators are being encouraged to voluntarily sign up for the industry-led data-sharing scheme GamProtect by the Gambling Commission and trade group the Betting and Gaming Council, but low participation could result in joining becoming mandatory.

September 12, 2024

FBI Finds Crypto Fraud Surged To $5.6bn In 2023

The US Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center recorded a dramatic rise in cryptocurrency-related fraud in 2023, with total losses surpassing $5.6bn — a 45 percent increase from 2022.

September 12, 2024

Regulatory Influencer: Portugal’s New Advertising Rules

The Banco de Portugal has announced a public consultation on the proposed revision of the rules for advertising financial products and services. This initiative follows the significant evolution in financial advertising, particularly in light of digitalisation and growing financial innovation.

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.