Insights Archive

September 21, 2021

News In Brief - September 21, 2021

U.S. President Joe Biden has signed an executive order that imposes sanctions against Ethiopia.

September 21, 2021

Diversity And Inclusion To Rise Up Priority List For Compliance Officers

Recent consultative exercises that the UK’s Financial Conduct Authority and the European Central Bank have undertaken show that diversity and inclusion are becoming more of an issue for compliance officers at financial firms in Europe.

September 21, 2021

European Lotteries Says Ethical Brands Are The Future

The European State Lotteries and Toto Association’s members are helping one another achieve the group’s new Responsible Gaming Certification, which includes passing an independent audit of labour practices and climate change impact.

September 21, 2021

Unlicensed Operators Must Block Dutch Players From October, Says Minister

Operators that passively target the Dutch market without a licence after October 1 face enforcement action and possible licensing jeopardy, following new instructions from the country’s gambling minister.

September 21, 2021

U.S. M&A Activity Set To Continue As Sportsbooks Seek Tech, Online Casino Assets

The splurge of merger and acquisition activity in the U.S. sports betting and online gaming market is likely to continue into 2022, according to the chief executive of Bragg Gaming and former CEO of SBTech.

September 20, 2021

AML Control – An Expert Speaks

In this article we speak to Rachel Woolley, the director of financial crime at know your customer (KYC) technology firm Fenergo, about a wide range of topics on the subject of money laundering control.

September 20, 2021

Prepare For CBDCs To Shake Up Financial System, Says German Banking Supervisor

Central bank digital currencies (CBDCs) could change the banking industry radically, but this does not entitle them to special treatment, according to the president of Germany’s central bank.

September 20, 2021

Fight Over U.S. Financial Account Flow Reporting Proposal Heats Up

Tensions surrounding a new proposal, aimed at closing the tax gap by creating a massive reporting obligation for financial account flows, are intensifying. The U.S. Treasury Secretary wants President Biden to include the proposal in his spending bill, but a group of Republican senators have introduced a bill to stop that from happening.

September 20, 2021

News In Brief - September 20, 2021

Beset by regulatory troubles, Coinbase has applied to the U.S. National Futures Association to register as a Futures Commission Merchant.

September 20, 2021

Lawmakers Give Gambling Operators Chance To Complain About UK Regulator

Gambling operators will be offered the chance to anonymously complain about the UK Gambling Commission after claims they are “scared” of lodging formal complaints because of the fear of “retribution”.

September 20, 2021

Online Gaming, iLottery On Different Legislative Track To U.S. Sports Betting

As sports-betting bills continue to sail through state legislatures, legal experts and industry executives remain perplexed as to why measures legalizing online casino and internet lottery games face more skepticism from lawmakers despite the significant tax revenues on offer.

September 20, 2021

Hong Kong Jockey Club Strips Membership From Jailed Democrats

The Hong Kong Jockey Club has revoked the memberships of three veteran pro-democracy figureheads convicted for political activity, including former Apple Daily media mogul Jimmy Lai and barrister, democracy activist and ex-legislator Martin Lee.

September 17, 2021

News In Brief - September 17, 2021

The Bank for International Settlements Innovation Hub to test central bank digital currencies for international settlements, while the Electronic Transactions Association sets out five guiding principles for crypto. In the U.S., the Federal Trade Commission has opened the rulemaking petition process to the public, and in Estonia the finance minister warns that new crypto-licences could be suspended.

September 17, 2021

The Other Side Of The Crypto Coin: There Are Controls To Mitigate Risks

People are ceasing to perceive crypto-assets as risky and are taking a more balanced approach to them by looking at risks and controls together. As many banks are still struggling to understand the full spectrum of crypto-asset products, UK Finance has released a white paper to encourage the forging of trusted relationships between traditional financial institutions and the rapidly-growing new industry.

September 17, 2021

Boris Johnson Switches Gambling Act Review Boss

The politician leading the review of the UK Gambling Act has been replaced, after falling victim to Prime Minister Boris Johnson’s Cabinet reshuffle.

September 17, 2021

Legalize Or Not: U.S. States Grapple With Grey-Market Games

The one issue a panel of gaming attorneys and industry analysts agreed upon on Thursday during a discussion on distributed gaming was the urgent need for state lawmakers to do more to address the issue of unregulated gaming machines.

September 17, 2021

Court Order Sought To Block November Launch of Mobile Betting In Florida

Opponents of a Florida Indian gaming compact are asking a federal court in Washington, D.C. to block the Seminole Tribe from commencing mobile sports betting as soon as November 15.

September 17, 2021

News In Brief: September 13-September 17, 2021

A William Hill unit is under orders from the Swedish regulator, Michigan and New Jersey continue to profit and MGM expected to be confirmed as Osaka IR choice.

September 16, 2021

APP Fraud - Where Are We Now?

The consumer group Which? is calling on the UK's Payment Systems Regulator to make banks do more to protect the victims of authorised push payment (APP) fraud and provide them with fair reimbursement.

September 16, 2021

PEPwatch: Cape Verde To Send Alex Saab To Miami

The Constitutional Court of Cape Verde has entered a ruling that clears the extradition of accused Colombian money launderer Alex Nain Saab Moran to the United States, where he faces federal charges that could send him to prison for the rest of his life. Saab, a close associate of Venezuela's President Nicolas Maduro, stands accused of money laundering on a global scale.

September 16, 2021

U.S. To Fill Crypto Regulatory Gaps

While U.S. Senators remain divided about whether to regulate crypto markets, the Securities and Exchange Commission (SEC) has teamed up with fellow financial regulators to spot regulatory gaps and find the best ways to fill them, the SEC chair told Congress.