Insights Archive

October 14, 2021

Fed Payments Modernization Moves Forward With E-invoice, Remittance Initiatives

The U.S. Federal Reserve and Business Payments Coalition (BPC) has announced plans to launch a pilot exchange framework for electronic invoices (e-invoices) and an initiative to improve electronic delivery of remittance information.

October 14, 2021

Bankers Split On Implications Of CBDCs

The rise of central bank digital currencies (CBDCs) has left commercial and public sector banking officials dwelling on what the best move forward is and potential risks. Meanwhile, China continues to emerge as the most likely first mover. <br />

October 14, 2021

UK Casino Docked £450,000 For AML, Responsibility Failures

The UK Gambling Commission has fined a Leeds casino £450,000 ($615,000) after a probe revealed social responsibility and anti-money laundering (AML) failures.

October 14, 2021

Australian Online Problem Gambling Rate Doubles In A Decade

A landmark Australian study on the prevalence and impacts of interactive gambling has given ammunition to governments to impose heavier restrictions on online gaming, with the rate of problem gambling doubling to 1.2 percent in ten years.

October 14, 2021

Signature Gatherers Accused In Florida Sports Betting Campaign

The DraftKings and FanDuel sports-betting campaign committee in Florida is no longer soliciting signatures at Florida International University (FIU) in Miami following reports of students being harassed on campus, a committee official said.

October 14, 2021

Minnesota Sports Betting Still Facing Strong Tribal Opposition

Minnesota lawmakers are expected to reconsider legislation next year that would legalize sports betting, but any bill likely needs the support of gaming tribes that oppose any form of gambling expansion.

October 13, 2021

Improving Cross-Border Payments As Much A Commercial Issue As Regulatory

Cross-border payment linkages are as beneficial to the private sector as they are to regulators and government, according to panelists at Sibos 2021. This comes after EBA Clearing, The Clearing House and SWIFT announced their new cross-border payments initiative.

October 13, 2021

ISO 20022 To Move Sanctions Screening From Crime Detection To Prevention - Sibos

The rapid growth of electronic payments has increased the need for better sanctions screening. As interest in new technologies grows, the market is shifting its approach from “detecting” a suspicious payment to “preventing” it, experts said at Sibos 2021.

October 13, 2021

Dip In PEPs, Rise In SARs, FCA Analysis Shows

A change in guidance has triggered a decrease in the amount of politically exposed persons (PEPs) being reported to the UK’s Financial Conduct Authority (FCA). However, analysis shows that there has been an increase in the number of Suspicious Activity Reports (SARs).

October 13, 2021

Riksbank Says ’Do No Harm’ Is Guiding Principle For e-Krona CBDC

Leading in central bank digital currency (CBDC) experimentation, Sweden’s e-krona study is focusing on P2P, P2B retail payments while the country is considering the possibilities of potential offline use and paying interest on digital fiat deposits.

October 13, 2021

Entain Says Only Half German Population May Get Online Casino

An Entain executive has estimated that about half of Germany's population will be eligible to access online casino games, although some states would be reserved for state monopolies.

October 13, 2021

Unintended Consequences Linger 15 Years After UIGEA Enactment

There may not be a better example of a federal statute creating the opposite of what Congress intended than the Unlawful Internet Gambling Enforcement Act (UIGEA), which President George W. Bush signed into law 15 years ago today.

October 13, 2021

U.S. Sports Betting Enjoys September Surge

September was a bumper month for the U.S. sports-betting market, particularly for bettors taking up generous bonuses at the start of the National Football League (NFL) season, if new regulator statistics in Indiana and Iowa are indicative of market-wide trends.

October 13, 2021

Ukraine Court Upholds Removal Of Regulator Accused of Graft

Ukraine's top anti-corruption court has removed the former deputy head of the country's gambling regulator after accusations of illicitly receiving $90,000 to process licences and permits.

October 12, 2021

Impact Analysis: How FATF’s Greylisting Will Affect Malta and PSPs

This analysis looks into the details of the Financial Action Task Force’s (FATF) decision to add Malta to its list of jurisdictions under increased monitoring (greylist), the reasons for it happening, the conditions FATF has set Malta for being delisted and the short- and long-term impact of the country being greylisted. The analysis will also look at how this will affect payment service providers (PSPs) headquartered and operating in Malta.

October 12, 2021

Consultation Responses Reveal Divergence Of Opinion Over Faster Payments Consumer Protections

The UK Payments Systems Regulator has released the responses to its consultation on consumer protections of interbank payments, which reveal contrasting opinions on how Faster Payments can provide a competitive alternative to card payments while ensuring customers are adequately protected.

October 12, 2021

Swish Migration To RIX-INST Opens New Chapter In Swedish Payments Success Story

Swedish mobile payments service Swish is planning to migrate its services to the new central bank-developed RIX-INST, as part of a wider development of instant payments services in the country.

October 12, 2021

Workplace Culture Takes Centre Stage As New OBIE Chair Starts

We will learn from past mistakes to help open banking deliver on its mission as a public good, the new chief executive, Charlotte Crosswell, has said as she takes over following a bullying scandal at the Open Banking Implementation Entity (OBIE).

October 12, 2021

The GDPR In Its Fourth Year - Q&A With An Expert

To review the last three years of the EU's General Data Protection Regulation (GDPR), VIXIO spoke to Alex Scheinman, managing director at ACA Aponix, about the regulation's effect on the world, the influence that coronavirus, Brexit and Schrems II have had on it and the future of data privacy.

October 12, 2021

California Wrestles With Dual Licensure For Gaming, Marijuana

Like in Nevada, gambling regulators in California are expressing some concern at potential interactions between state-licensed gaming businesses and the lawful marijuana industry.

October 12, 2021

Challenges Persist Converting U.S. Players To Home Markets

When the time comes for another U.S. state to pass sports-betting legislation, the starting point of debate will likely be converting players from offshore sportsbooks to regulated markets, even if post-legalization challenges remain.