Insights Archive

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.

October 9, 2024

US Senator Seeks To Abolish Suspicious Activity Reporting Rules

A US senator has introduced a new bill that seeks to abolish current legislation on suspicious activity reports (SARs).

October 9, 2024

FCA Sets New Expectations On APP Fraud Reimbursement

The UK Financial Conduct Authority (FCA) has circulated a Dear CEO letter outlining what it expects payment and e-money firms to do in light of the new reimbursement requirements that came into effect on October 7.

October 9, 2024

Wynn Reveals UAE Tax Details, Revenue Projections

US-based casino operator Wynn Resorts has released new financial metrics and regulatory details for its United Arab Emirates (UAE) project, including a 15-year renewable licence and a blended tax rate comparable to Singapore.

October 9, 2024

California Tribal Leaders Restart Sports-Betting Talks

California and Minnesota tribal gaming leaders spoke optimistically Tuesday about the future of legalized sports betting in their respective states.

October 8, 2024

Brazilian President Threatens To Pull Plug On Online Gambling

Brazil President Luiz Inácio Lula da Silva has declared that he will end gambling “once and for all” if a forthcoming regulation of online betting platforms does not “produce results”.

October 8, 2024

Kuwait Prepares To Lock Out Bank Customers Who Do Not Use Fingerprint ID

A new directive from Kuwait’s Ministry of Interior requires banks to freeze the accounts of customers if they do not register their fingerprint ID with the government.

October 8, 2024

Why Liechtenstein Is Primed To Be A MiCA Magnet

An already established crypto framework and unique access to the EU and Swiss markets puts the European Economic Area member in prime position to attract crypto firms seeking to set up shop under the EU’s legal regime.

October 8, 2024

Daily Dash: US Senator Elizabeth Warren Calls For Citi To Be Broken Up

A US senator has called for Citi to be broken up following repeated compliance failures, while Sweden is considering new measures to prevent the use of defunct companies in financial crime schemes.

October 8, 2024

Isle Of Man Fines Ex-Licensee CyberHorizon Over AML Breaches

The Isle of Man gambling regulator has fined former licensee CyberHorizon £200,000 ($260,000) over four breaches of anti-money laundering provisions, but reduced the penalty to reward its cooperation.

October 8, 2024

Regulators Remain Concerned About U.S. Sports-Betting Advertising

Concerns about advertising saturation remain top of mind for regulators despite sports-betting operators in the United States slowing their advertising barrage in recent years in pursuit of profits over customer acquisition.