Insights Archive

November 24, 2021

Seminole Tribe Appealing Court Order Blocking Florida Compact

Reactions trickled in throughout Tuesday to the major federal court ruling quashing the gaming compact between the Seminole Tribe and the state of Florida, with the tribe already taking the first steps towards launching an appeal.

November 24, 2021

No More Football Indexes, Says UK Commission Consultation

The latest Gambling Commission consultation would safeguard the regulator against future Football Index style embarrassments, but also seeks to codify the new normal, legal experts have said.

November 24, 2021

Malta Websites Linked To Latest Italian Mafia Bust

Twelve people were arrested last week in Italy by anti-mafia police for running illegal betting operations through websites registered to companies in Malta.

November 24, 2021

Top Court Rules Wynn Macau Liable For Junket Misconduct

Macau’s highest court has declared casino operator Wynn Macau is culpable for player losses resulting from a heist at the now-defunct Dore junket, delivering a new body blow to the flailing VIP segment.

November 23, 2021

European Central Bank Unveils New Electronic Payments Framework

The European Central Bank’s governing council has approved a new rulebook for electronic payments, including stablecoins and crypto-assets.

November 23, 2021

Four Banks Struck With Hefty Fines From Hong Kong Regulator

Financial institutions operating on the island have been fined for failing to comply with anti-money laundering regulations, the Hong Kong Monetary Authority has announced.

November 23, 2021

BNPL Costs May Outweigh Value, Kansas Fed Warns

If buy now, pay later (BNPL) becomes a preferred payment method, the service may cost more for merchants than what it brings in, the Federal Reserve Bank of Kansas has warned, adding that it is unlikely for U.S. regulators to step in to mitigate merchant costs.

November 23, 2021

Georgia's Prime Minister Weighing Online Casino Ban

During a government meeting on Monday, the Georgian Prime Minister announced plans to raise taxes for online casinos, ban gambling ads and raise the legal age for gambling to 25, but warned he is also considering a total ban on online casinos.

November 23, 2021

Tanzania Advertising Code Includes TV, Radio 'Blackout'

The Gaming Board of Tanzania has proposed a new code of practice for gambling adverts which would see a TV and radio “blackout” from Monday to Friday between 6am and 9am.

November 23, 2021

Federal Judge Throws Out Florida-Seminole Compact, Halts Sports Betting

A U.S. District Court judge late Monday night invalidated the Seminole Tribe’s landmark new gaming compact with the state of Florida, bringing an abrupt end to the state’s mobile sports betting offering.

November 22, 2021

FinCEN Says Payments Processors Must Report Suspected Environmental Crime

The U.S. Financial Crimes Enforcement Network (FinCEN) has released an advisory document, guiding financial institutions on how to file suspicious activity reports related to environmental crime, after finding an upward trend in this type of crime.

November 22, 2021

Cybersecurity Rules Tightened For U.S. Banks

The three federal US financial regulators have issued a new cyber rule for banks - meaning that they need to report cyber incidents within 36 hours.

November 22, 2021

ECB: We Don’t Want To Compete In the Payments Landscape

The digital euro is an instrument, not a commercial product, a European Central Bank (ECB) official has told members of the European Parliament.

November 22, 2021

India’s Paytm Loses Quarter Of Share Value, While Regulator Plots New IPO Rules

India's largest initial public offering (IPO) ended on a sour note as shares in mobile payments app Paytm tumbled 27 percent on the first day of trading. Meanwhile, regulators look to tighten rules relating to IPOs as stock market activity reaches fever pitch.

November 22, 2021

California Tribes Urged To Embrace Risks Of Sports Betting

Tribes in California and other Indian gaming markets have been advised to focus on on-premises mobile sports betting and embrace the risks associated with legal sports wagering, rather than view it as a mere amenity within their casino-resorts.

November 22, 2021

Malta Gambling Conference Draws Flak Over COVID-19 Protocols, Strip-Tease Act

The SiGMA Europe conference in Malta last week was dogged by controversies ranging from concerns about COVID-19 precautions to a strip-tease act at an exhibitor’s booth that was quickly squelched.

November 19, 2021

Urgent Intervention Needed For Stablecoins, Warns ECB

Central banks should take advantage of stablecoins current low risks and build up a regulatory framework, the European Central Bank (ECB) has declared in its Financial Stability Review.

November 19, 2021

PSR Would Require Banks To Publish APP Fraud Data And Offer Mandatory Reimbursement

The UK Payments Systems Regulator (PSR) has published a consultation paper on authorised push payment (APP) scams, proposing further measures to fight this form of fraud, which has grown significantly within the first half of the year.

November 19, 2021

Week In Brief - November 19, 2021

A short roundup of some of the week's payments news you may have missed. This week we look at AML breaches in Switzerland, N26’s exit from the United States, changes to direct debit rules in Canada and new laws aimed at reducing wastage from digital products and services in France.

November 19, 2021

Off The Hook For Now? Swedish Authorities Conclude Investigation Against Klarna

The Swedish Financial Supervisory Authority (Finansinspektionen - FI) has “written off” its investigation into the buy now, pay later kingpin.

November 19, 2021

UK Review White Paper To Address Affordability, Online Stakes

Affordability and online restrictions similar to those imposed on fixed-odds betting terminals (FOBTs) will be looked at in the government's impending white paper on the Gambling Act review.