Insights Archive

December 19, 2024

Antitrust Complaint Filed Over PSD2 Non-Compliance In Norway

A major open banking payments and data company has lodged a formal complaint with Norway’s competition watchdog, accusing Norwegian banks of engaging in anti-competitive practices.

December 19, 2024

EU Authorities Signal DORA Reporting Progress On Track

The European supervisory authorities have said that the EU financial sector is on track to comply with its reporting obligations under the Digital Operational Resilience Act (DORA).

December 19, 2024

Scrapping Of R&D Tax Break Angers Australian Gaming Industry

Australia has terminated a valuable research and development (R&D) tax concession for gambling and tobacco companies, likely culling the bottom line of the nation’s gambling industry by millions of dollars each year.

December 18, 2024

U.S. Senators Express Interest In Federal Sports-Betting Standards

Several U.S. senators expressed their desire to implement new federal sports-betting standards during a high-profile Senate committee hearing on Tuesday.

December 18, 2024

Peru Tax Decree Presents Pressing Compliance Challenge

The imminent implementation of a consumption tax on every bet leaves Peru’s newly licensed operators stuck between a rock and a hard place as they scramble to comply with conflicting fiscal and gambling regulations.

December 18, 2024

CBDCs Are The 'Future Of Currency', Says Outgoing RBI Governor In Final Speech

The Reserve Bank of India (RBI) governor has described central bank digital currency (CBDC) as the "currency of the future" in his final speech before leaving the position.

December 18, 2024

Meta Platforms Flagged As Scammers' Haven In New PSR Report

Big tech platforms, especially those run by Meta, have been accused of providing a safe haven for fraudsters targeting UK consumers, according to a new report from the Payment Systems Regulator (PSR).

December 18, 2024

UAE Regulator Jim Murren Accused Of Conflict Of Interest

The chair of the United Arab Emirates’ (UAE) fledgling gambling regulator, gambling industry veteran Jim Murren, has been accused in a US media outlet of a conflict of interest after taking up the chairmanship of Resorts World Las Vegas.

December 17, 2024

U.S. Senate Committee To Scrutinize Sports-Betting Industry

Testimony at a U.S. Senate committee hearing on sports betting on Tuesday will include lobbying for a variety of potential federal reforms of the industry.

December 17, 2024

Colombia Publishes Decree Aimed At Limiting Influencer Raffles

Colombia President Gustavo Petro has signed a decree to regulate online raffles in the country.

December 17, 2024

UK Gambling Commission Takes Action Against Roblox Casinos

UK Gambling Commission CEO Andrew Rhodes has responded to media reports surrounding illegal sites allowing currency from a children's video game to be used on illegal casinos, stating that the episode reflects the “ever-evolving threat we see around illegal gambling”.

December 17, 2024

Lagos State Regulator Insists National Online Licences Have No Legal Basis

The Lagos State Lotteries and Gaming Authority has stated that there is no such thing as a “remote gaming licence” in Nigeria, contrary to recent media reports in the country.

December 17, 2024

New Zealanders Say No To CBDC In Record-Breaking Consultation Response

A consultation on central bank digital currency (CBDC) has provoked more responses than any consultation in New Zealand’s history, as the public voices its concern over privacy and surveillance risks.

December 17, 2024

EBA Issues Last-Minute DORA Q&As

The European Banking Authority (EBA) has published a new set of clarifications on the EU’s Digital Operational Resilience Act (DORA), as the January 17 implementation deadline nears.

December 17, 2024

Daily Dash: EU Adopts 15th Sanctions Package

The European Union has adopted its 15th package of sanctions aimed at curbing Russia’s capacity to continue aggression towards Ukraine. The measures announced target individuals, entities and mechanisms supporting Moscow’s military and industrial complex.

December 17, 2024

Entain Prosecuted In Australia Over 'Systemic' AML Failures

After a 27-month investigation, Australian financial transactions regulator AUSTRAC has launched a civil prosecution against Entain's Australian subsidiary over “serious and symptomatic non-compliance” with anti-money laundering and counter-terrorism financing laws.

December 16, 2024

Nevada Regulators Revoke License Of Former Casino Executive

Nevada gaming regulators have agreed a settlement that will effectively cost Scott Sibella, the former top executive with Resorts World Las Vegas and MGM Grand, his career in the casino industry almost a year after he pled guilty to criminal charges associated with a money laundering case involving an illegal bookmaker.

December 16, 2024

Brazil 'Sin Tax' Advances, As Colombia VAT Plan Stalls

Online gambling groups in Brazil and Colombia have had contrasting fortunes in their lobbying efforts to avert new taxes being applied to the industry.

December 16, 2024

CFPB Director Hints That He Will Not Resign, But 'Respects' Trump's Right To Fire Him

The director of the US Consumer Financial Protection Bureau (CFPB) has refused to say whether he will resign when Donald Trump takes office, leading to speculation that he will be fired.

December 16, 2024

UK Treasury Taps City Lawyer To Review Payments, E-Money Insolvency Framework

HM Treasury has confirmed the appointment of Adam Plainer, a prominent restructuring lawyer in London, to lead a review of the insolvency regime for payments and e-money firms.

December 16, 2024

PSR To Merge Managing Director Role With FCA Position

The UK payments regulator has confirmed that it will be recruiting for a managing director, who will also be responsible for oversight of payments and digital assets at the Financial Conduct Authority (FCA).