Insights Archive

October 14, 2024

US Treasury Calls For Modernised Domestic Payments Regulation

Nellie Liang, under secretary for domestic finance at the US Treasury, has called for a reboot of the rules and regulations governing the entire domestic payments system, citing the need for a federal framework to address the potential risks and benefits of emergent new technologies.

October 14, 2024

Daily Dash: Losses To Romance Scams Double In Denmark

Danish banks have stepped in to help customers claw back a surge in losses to romance scams, while JCB has enabled Google Pay for card customers in Japan.

October 14, 2024

Australia's Victoria State Hits Hotel Group ALH With Fine Over Child Access

A court in Victoria state has slapped leading hotel interest Australian Leisure and Hospitality Group (ALH) with a A$177,500 ($120,000) fine and A$45,000 in costs in a follow-up to wagering giant Tabcorp Holdings’ prosecution over underage access to gambling facilities.

October 11, 2024

U.S. Regulators Discuss Cease-And-Desist Approach To Unregulated Sites

While cease-and-desist letters by U.S. regulators to offshore sportsbook Bovada and other unregulated operators have been successful to date, some regulators believe more tools will be needed to further cut down on unregulated operations.

October 11, 2024

Trade Body Report Seeks To Teach Regulators Best Practice

Trade group the Betting and Gaming Council (BGC) has released a document designed to educate regulators and legislators on the best way to craft their gambling regulations.

October 11, 2024

U.S. ‘Misguided’ About Balance Between Gambling Harm, Benefit, Lobbyist Says

The U.S. is “completely misguided” about the balance between the economic benefits and harm from gambling, said a keynote speaker for an academic conference on gambling harm.

October 11, 2024

Regulatory Influencer: Comparing the FCA’s Dear CEO Letters on APP Fraud Reimbursement – Payments and E-Money Institutions and Banks and Building Societies

The FCA has issued two Dear CEO letters on Authorised Push Payment (APP) fraud reimbursement one for banks and building societies and the other for payment and e-money institutions. While both letters emphasise the importance of protecting consumers from APP fraud, the FCA tailors its expectations to account for the structural and operational differences between these sectors.

October 11, 2024

Week In Crypto: Coinbase Says Goodbye To Non-MiCA-Compliant Stablecoins

Coinbase reveals new MiCA compliance plans, Crypto.com sues the SEC after receiving a Wells notice, and Dubai fines seven unlicensed crypto firms as a “public warning” to the industry.

October 11, 2024

Nearly Half Of Payment Firms Not Compliant With Consumer Duty, FCA Reveals

The UK’s Financial Conduct Authority (FCA) has published findings from its review of 23 payments firms’ implementation of the Consumer Duty, highlighting the need for firms to meet higher standards for consumer protection.

October 11, 2024

Daily Dash: FCA Fines TSB £10.9m For Customer Treatment Failings

The FCA announced that TSB Bank will pay a high price for mishandling customers in financial difficulty, while Sweden has decided to scrap a proposed regulation for payment service providers.

October 11, 2024

News In Brief: October 7-October 11, 2024

An Australian senator introduces an advertising ban bill, New South Wales widens and extends its greyhound racing inquiry, and shares in Benin's lottery are put up for sale.

October 11, 2024

Brazil Begins New Enforcement Era

Brazil’s telecoms authority has begun blocking unlicensed gambling websites, even though industry experts believe squeezing payments will be the government’s best bet in enforcing new regulations.

October 10, 2024

Nigeria’s 'Burdensome' Gambling Withholding Tax Confirmed

Nigeria has confirmed that its incoming withholding tax regulations will come into force on January 1, 2025, which gambling businesses fear will be difficult to handle.

October 10, 2024

Ireland's Gambling Bill Could Complete Final Stage Next Week

Ireland’s Minister of State at the Department of Justice is hopeful that the long-awaited Gambling Regulation Bill will return to the Dáil, the law-making branch of the legislature, and complete its final stage next week.

October 10, 2024

Daily Dash: India Doubles Transaction Limit When Using UPI Offline

India’s central bank has unveiled plans to make offline UPI transactions easier for feature users, while HSBC has been fined for customer due diligence failures in South Africa.

October 10, 2024

DoJ Visa Lawsuit Could Sway US Credit Space, Swipe Fee Debate

One of the most consequential elements of the DoJ’s case against payments giant Visa could be its effect on the ongoing credit card swipe fee discussion in the US, a long-lasting and bitter feud over the fees that merchants pay to process card transactions.

October 10, 2024

Curaçao's New Gambling Bill Remains Elusive

Two of Curaçao’s master licences have now expired, as the island moves away from the controversial gambling regulation of its past, but with long-promised legislation still yet to be enacted the future remains uncertain.

October 10, 2024

Alberta Minister Says Online Gaming Legislation Planned For Spring 2025

A key Alberta government minister says legislation governing the province’s private online gaming model is planned to be introduced next spring, pumping the brakes on industry rumblings of an aggressive timeline that would include a 2024 launch.

October 9, 2024

Chilean Casinos Face Crisis Over Collusion Charges

Criminal charges for collusion against casinos have been filed for the first time in Chile in the government’s case against operating giants Dreams, Enjoy and Marina del Sol.

October 9, 2024

Key Provincial Figure Backs One Of Two Duelling South African Gambling Reforms

South Africa, and by extension the province of KwaZulu-Natal (KZN), is not generating tax revenue from online gambling due to a lack of legislation, according to KZN’s Provincial Treasury, as it backs a push for new legislation.

October 9, 2024

Daily Dash: DORA Highlighted As Top Priority For EU Supervisory Authorities In 2025

EU regulators say that the Digital Operational Resilience Act (DORA) will be a key area of oversight in 2025, while Thailand has closed its first applications for a new virtual banking licence.