Insights Archive

July 13, 2022

UPDATE: Rogers Outage Met With Ministerial Action, Interac Adds Backup Supplier

Canada’s industry minister demands immediate action to improve resiliency after a nationwide outage at a telco company crippled payments on the Interac network, while Interac confirms plans to add a backup network provider.

July 13, 2022

US Agency Steps Up Against Abuse Of Consumer Data Sharing

The Consumer Financial Protection Bureau (CFPB) tells businesses to take purpose-based data use seriously or face criminal liability.

July 13, 2022

VASPs Must Submit Better Applications, Warns Irish Regulator

The Central Bank of Ireland has issued a new bulletin highlighting the weaknesses in virtual asset service provider (VASP) applications.

July 13, 2022

UPDATE: KakaoTalk Removes In-App Payment Link Following Dispute With Google

KakaoTalk, South Korea’s most popular messaging app, has removed an external payment link from its Android app following a dispute with Google.

July 13, 2022

Real-Time Payment Screening A Concern, Admits FCA In Sanctions Letter

In a recently published letter to the Treasury Select Committee, the UK’s Financial Conduct Authority (FCA) has provided an update on the sanctions regime and where its concerns lie.

July 13, 2022

BIS Tells Central Banks To Plan Ahead For CBDC Interoperability

A new report from the Bank for International Settlements (BIS) has called on central banks to act early on coordinating interoperability measures for cross-border central bank digital currency (CBDC) payments.

July 13, 2022

Dutch Legislature Rife With Gambling Ad Concerns

A consultation has been launched on the Dutch government’s proposed changes to gambling advertising laws, while politicians also have Holland Casino and the Dutch Lottery’s advertising spend in their crosshairs.

July 13, 2022

Unibet Apologises For Blaming Dutch Regulator

Kindred Group’s Unibet brand has apologised for some of its staff blaming Dutch player bonusing problems on the regulator, saying the issues were due to faults in its own systems.

July 12, 2022

Impact Analysis: CBDCs in Asia - The Lure of Complete Control

This impact analysis examines the progress towards a central bank digital currency (CBDC) in countries with three different approaches to controlling their economies, namely: China; India; and Thailand. It will examine whether there are any similarities in their approaches in the lead-up to their CBDC issuance and, if there are, how this is affected by the economic and political situations in the countries.

July 12, 2022

Fed Says Crypto Does Not Yet Pose Systemic Risk, Despite Losses

Despite hitting a market cap of $3trn last year, the vice chair of the US Federal Reserve has said that crypto-assets are not yet large enough to pose systemic risk to the financial system.

July 12, 2022

ECB Looks For Tech Experts For Digital Euro

The European Central Bank (ECB) is inviting technology experts to take part in online technical talks to explore options for the design of a central bank digital currency.

July 12, 2022

Danes Outline New AML Strategy With Push For More Collaboration

The Danish government’s justice, business, and taxation departments have announced a new money laundering strategy for 2022-2025, aiming to move on from past scandals and criticism.

July 12, 2022

Evolution Or Revolution? Europe Needs A Payment Solution ASAP

A pan-European payment solution is on the way, experts agree; however, it is less obvious how this will happen and which form it will take.

July 12, 2022

After Spreading Like Wildfire, U.S. Sports Betting Grinding Down

Last month’s heartbreaking defeat in North Carolina coming on the heels of a similar failure in May in Minnesota could be the new normal for the campaign to expand sports betting across the United States.

July 12, 2022

U.S. Gaming Industry Struggles With Narrative For Legalizing Online Casinos

As sports betting is now legal in 35 states, the U.S. gaming industry plans to increase its lobbying of state legislatures to legalize internet gaming, a task that has been difficult as politicians have so far dismissed the narrative about significant tax revenues that could be generated.

July 12, 2022

Gammix Battles Dutch Cease And Desist Order

Malta-based Gammix Limited is fighting back against a cease and desist order from the Netherlands Gambling Authority (KSA) for offering online games without a licence, but could face millions of euros in fines.

July 12, 2022

GambleAware Pleads For White Paper Release

UK charity GambleAware has publicly implored ministers not to further delay publication of the Gambling Act white paper, despite the political chaos that currently grips the ruling Conservative Party.

July 11, 2022

Canadian Telco Outage Causes Payments System Havoc

A blackout at telco Rogers has caused widespread disruption to essential services across Canada, including bringing many of the country’s payments systems to a halt.

July 11, 2022

New Zealand Regulator Takes AML Action Against One Of Country’s Largest Banks

The Bank of New Zealand, one of the country’s oldest commercial banks, has been chastised by the central bank for money laundering failures.

July 11, 2022

US Treasury Proposes Framework For International Engagement On Digital Assets

The US Treasury has proposed a new interagency framework for engagement and cooperation with foreign counterparts and international fora on digital assets regulation.

July 11, 2022

Lithuania Keeps On Growing As Payments Hub, As De-Risking Remains A Problem

Lithuanian payments and electronic money institutions had almost 10m customers in 2021, with revenues growing 3.5 times as the country tries to grapple with the size and knock-on effects of its burgeoning sector.