Insights Archive

June 7, 2024

Daily Dash: Peru Harnesses India's UPI Technology In Landmark Digital Payments Deal

Peru has become the first country in South America to sign up for a UPI-like payments system provided by India, while eBay has said it will ditch American Express due to “unacceptably high” fees.

June 7, 2024

News In Brief: June 3-June 7, 2024

Austria details illegal gambling fines, Stake cleared in Switzerland, casinos fined in Missouri and US senator wants to ban slots on military bases.

June 7, 2024

Duty Of Care Fines On Dutch Horizon

A new unit is being set up at the Netherlands Gambling Authority to monitor how gambling operators fulfil their duty of care, and to hand out fines to those who do not meet the regulator’s standards.

June 7, 2024

Torture Victim Dies Amid Philippine Online Gambling Raid Chaos

Fallout from the raid of an online gambling and cyber-scamming operation in the Philippines is mounting amid the death of a torture victim, suspected operator links to a second raided property and delays in rescuing more victims after the withdrawal of a search warrant.

June 7, 2024

Regulator Clarifies 'Brazilian' Licensing Requirement

Brazil’s Ministry of Finance has now answered one of the burning questions that operators have been asking as the country’s licensing process opens and officials intend to answer another one related to permissible casino games before the end of July, according to the ministry’s newly appointed chief gambling regulator.

June 7, 2024

Massachusetts Regulator To Hold Hearing On ESPN Anchor's Risk-Free Comment

Penn Entertainment could face sanctions from Massachusetts regulators as a result of a comment made by an ESPN anchor earlier this year regarding “risk-free” gambling.

June 6, 2024

FBI Says Gambling Debt Caused NBA Player To Manipulate Prop Bets

Federal authorities have said former NBA player Jontay Porter was encouraged to manipulate his player propositions due to outstanding gambling debt owed to another person.

June 6, 2024

Regulatory Influencer: US Consumer Financial Protection Bureau Makes Progress on Open Banking

On June 5, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule establishing minimum requirements for a standard-setting body to receive CFPB recognition; thereby, allowing them to issue consensus open banking standards when the Personal Financial Data Rights rule is finalized.

June 6, 2024

New US Repeat Offenders Registry Will Target Non-Banks

Non-bank financial companies that violate consumer laws will be registered on a nationwide offenders list, thanks to new powers granted to the US Consumer Financial Protection Bureau.

June 6, 2024

Afterpay Calls For Greater Use Of 'Partial Credit Checks' In Australian BNPL Regulation

Australia’s largest buy now, pay later (BNPL) firm has called for “partial credit checks” to be given a more prominent role in BNPL regulation, as the sector moves towards similar rules as other credit products.

June 6, 2024

Daily Dash: Irish Central Bank Tipped To Launch Innovation Sandbox Programme This Year

The Central Bank of Ireland plans to launch an innovation sandbox programme in 2024, while Australia's parliament has introduced the "Keeping Cash Transactions in Australia Bill 2024", imposing A$5,000 fines on businesses that fail to accept cash payments for regulated in-person transactions.

June 6, 2024

German Online Casino Market Is 'Askew', Executives Say

The online casino market in Germany is "askew", with table games separated from slots and a laborious process for approval of slots games, executives have said.

June 5, 2024

France Launches New Campaign To Combat Betting Ads During The Euros

France’s National Gaming Authority (ANJ) has announced the launch of a new safer gambling campaign in time for the kickoff of the European Football Championship.

June 5, 2024

Regulatory Influencer: Singapore's Expanded Fair Dealing Guidelines, Consumer Duty Goes Global

The Monetary Authority of Singapore (MAS) has announced the expansion of its Fair Dealing Guidelines, to include all financial institutions under its regulatory ambit. These guidelines previously only applied to the selection, marketing and distribution of investment products.

June 5, 2024

What Are The ‘Red Flags’ In India’s New Self-Regulations For Fintechs?

The Reserve Bank of India (RBI) is keen to outsource fintech "industry standards and best practices" to self-regulatory organisations, but its new framework is not without its critics.

June 5, 2024

Payments Insiders Hope For Implementation, Not Regulation As EU Election Begins

The European Parliament’s elections are taking place between June 6 and 9, and with that will come a new mandate for the European Commission. However, payments insiders are hoping for less, not more, from Brussels.

June 5, 2024

Daily Dash: FCA Drops Criminal Investigation Into AML Failures At Monzo

A criminal investigation into money laundering failures at Monzo has been reduced to a civil matter, while UBS has been fined in Switzerland for failing to report suspicious transactions related to a former head of state.

June 5, 2024

Austrian Addiction Experts Demand Sports-Betting Regulation

An Austrian-based gambling addiction support network has called on the government to introduce stricter sports-betting regulations over fears that the current rules hurt player protection measures, taxation and advertising regulations.

June 5, 2024

U.S. Embraces Sports Betting, Remains Cautious Of Internet Gaming

Despite many in the U.S. gaming industry believing that internet casino gaming is the future and will drive significant revenue growth, concerns about cannibalizing land-based casinos and increasing gambling addiction have stalled legislative progress so far in 2024.

June 5, 2024

U.S. Sports League Issues Lifetime Ban To Player, Suspends Four Others

Major League Baseball issued five suspensions on Tuesday to players found to have bet on baseball, including the first lifetime ban the league has issued for betting since the infamous ban of its all-time hits leader 35 years ago.

June 5, 2024

Philippine Police Raid Online Gambling Operation Over Sex Trafficking, Torture

Philippine law enforcement agencies have raided another foreign-facing online gambling operation and detained at least 186 foreign nationals and Filipinos after receiving reports of sex trafficking and torture on site.