Insights Archive

June 12, 2024

Dutch Regulator Highlights Variations In Firm Readiness For DORA Compliance

The Dutch Authority for the Financial Markets has said that some firms it supervises have a lot of work to do to prepare for the EU’s Digital Operational Resilience Act (DORA).

June 12, 2024

PAGCOR Warns Online Gambling Ban Will Fuel Black Market

The Philippine gambling regulator has warned that a new congressional bill that would ban foreign-facing online gambling operations would compel affected companies to “go underground” and “cause bigger problems” for the nation.

June 11, 2024

DC Council Considering Competitive Sports-Betting Model In Budget Plan

The Washington, D.C. Council could vote later this month on a budget bill that would include an expanded sports wagering market in the United States capital involving multiple private operators.

June 11, 2024

Corinthians Ends Controversial Betting Sponsorship With Vaidebet

A record-breaking sponsorship contract between Brazilian football team Corinthians and Curaçao-based Vaidebet has been officially terminated.

June 11, 2024

Kazakhstan Moves To Ban Gambling For Military Personnel, Civil Servants

The parliament of Kazakhstan has supported, in two readings, amendments to the law on gambling which would restrict some categories of citizens from “participating in gambling and betting”.

June 11, 2024

Nigerian Federal Regulator Says CMS Will Improve Revenue Collection

Nigeria’s federal gambling regulator has defended the government’s decision to implement a new central monitoring system (CMS), saying it could become a “cornerstone” in the nation’s plan to move away from its dependence on oil and gas revenue.

June 11, 2024

International Students Caught Up In Australian Money Mule Activity

Australian financial services providers must do more to identify “money mule” activity among international students, which has risen alongside enrolments, the country’s anti-money laundering regulator has said.

June 11, 2024

UK Payments Lobby Presses For APP Fraud Rules Delay After Top Regulator Quits

Authorised push payment (APP) fraud rules should be delayed by a year, the UK payments lobby has said, after the head of the Payment Systems Regulator abruptly left his post.

June 11, 2024

EU Election Results In Payments Legislators Losing Seats

Two prominent members of the European Parliament closely involved with drafting payments legislation have lost their seats in this week’s election, creating uncertainty about the future of the draft laws they are negotiating.

June 11, 2024

Daily Dash: US Treasury Seeks Input On AI Risk In Financial Services

The US Treasury is seeking public comment on the risks and potential benefits of AI in financial services, while a US banking regulator has urged consumers to exercise caution when using neobanks and fintechs.

June 10, 2024

Mexican Industry Welcomes New President's Election

Claudia Sheinbaum Pardo has been elected the first female President of Mexico, following in the footsteps of her political mentor, outgoing President Andrés Manuel López Obrador, who enacted prohibitive changes to federal gaming regulations late last year.

June 10, 2024

Michigan Considers Targeting Bovada Suppliers, More Offshore Gaming Sites

While waiting for Bovada’s response to an order to cut off access to its website by Michigan residents, state gaming regulators insist the company will not be the last offshore casino and sports-betting site they target for illegally operating in the state.

June 10, 2024

Ukraine Issues Two Fines For Gambling Adverts

Ukraine’s gambling regulator has issued two fines for gambling advertising totaling UAH4.8m (€109,900), weeks after imposing a ban on gambling advertising.

June 10, 2024

Daily Dash: BIS, Central Banks Launch Multi-Currency CBDC Platform

A minimum viable product (MVP) version of a multi-currency CBDC platform is now live and is inviting participants, while the Netherlands is seeking to update its AML/CTF guidelines.

June 10, 2024

Australia's First Bill To Regulate Buy Now, Pay Later Hits Parliament

Buy now, pay later (BNPL) is set to come under similar rules as other credit products in Australia following the introduction of the country’s first bill to regulate the sector.

June 10, 2024

Merchants Keen For VRPs, But Route To Adoption Is Unclear

Commercial variable recurring payments (VRPs) are a promising alternative to cards, but it looks like regulatory intervention may be necessary.

June 10, 2024

Future Of UK Open Banking Secure Despite Bill Setback, Says Open Banking Limited CEO

Open Banking Limited's CEO has stated in an exclusive interview with Vixio that uncertainty over the UK Data Protection and Digital Information (DPDI) bill will not affect the future of open banking.

June 10, 2024

Finnish Gambling Industry Optimistic New Regime Will Not Be Unfriendly

The Finnish gambling industry expects the government to propose a “relatively liberal” online gambling licensing regime, the head of an online gambling trade group has said.

June 7, 2024

US CFPB Issues Guidelines For Open Banking Standards Setters

The US Consumer Financial Protection Bureau (CFPB) has outlined the requirements for industry standard-setting bodies to gain official recognition, aiding compliance with the upcoming Personal Financial Data Rights rule.

June 7, 2024

Week In Crypto: Binance To Restrict Stablecoins In Preparation For MiCA

Binance plans transition away from “unauthorised” stablecoins, New York orders crypto firms to improve their complaints handling, and the US Treasury finds that NFTs are “highly susceptible” to financial crime.

June 7, 2024

US CFPB Stokes Flames Of New York Versus Citibank Wire Transfer Case

The Consumer Financial Protection Bureau (CFPB) has issued a statement that suggests that the Electronic Fund Transfer Act should apply in the case of New York v Citibank, provoking an immediate industry backlash from advocates in the banking and payments industries.