Insights Archive

October 20, 2023

ACI Settles US Multi-State Claims Over Unauthorised Payments

ACI Worldwide has agreed to pay $20m to state regulators and attorneys general to end legal cases accusing the fintech giant of initiating nearly $2.4bn in payments without authorisation while in testing mode.

October 20, 2023

Week In Crypto: Winklevoss Twins Embroiled In $1bn Criminal Fraud Case

Three major crypto companies are charged with defrauding customers of $1bn, Binance walks a compliance tightrope in the UK, US and Russia, and the US Senate cracks down on crypto payments to Hamas.

October 20, 2023

Be Legal And Decent: Victoria Reads The Riot Act To Operators

The regulator in the Australian state of Victoria has thrown down the gauntlet to gambling companies that fail to operate “decently as well as legally”, warning that the “days are over” for passive compliance practices.

October 19, 2023

U.S. Sports Leagues Embracing In-Stadium Sportsbooks

Professional sports leagues and gambling companies in the U.S. are increasingly embracing the idea of easing access for sports fans to wagering on games by opening sportsbooks in or adjacent to stadiums.

October 19, 2023

Romário Releases Report On Brazil's Online Gambling Bill

Former football star turned federal senator Romário has presented his formal report on Brazil's sports-betting and online casino bill, although the sports committee that he chairs has delayed voting on an amended version of the closely watched legislation.

October 19, 2023

UK Commission Claims Offshore Enforcement Blitz

The UK gambling regulator says it has radically stepped up its enforcement against the black market, as its chief executive tells fellow regulators it is seeking a middle way between highly polarised pressure groups.

October 19, 2023

Daily Dash: Lloyd's Warns Major Cyberattack Could Cost Global Economy $3.5trn

Lloyd's of London has counted the costs of a doomsday cyberattack on the financial sector, the G20 has been issued new considerations for the interlinking of faster payment systems, and the US Treasury has praised India’s UPI.

October 19, 2023

Digital Euro Preparations Go Ahead Despite Concerns

The Governing Council of the European Central Bank has announced that it will soon move to the next phase — the preparation phase — of the digital euro project.

October 19, 2023

UAE Teams Up With India To Create Domestic Payment Card

The Central Bank of the United Arab Emirates has partnered with the National Payments Corporation of India to launch the UAE's first domestic card scheme.

October 19, 2023

Malaysia Appeals Court Says Aging Law Bans Online Gambling

A Malaysian appeals court has confirmed that online gambling is illegal under the nation’s 70-year-old gambling law, amid cautious legislative action to regulate the industry.

October 19, 2023

U.S. Solicitor General Urges Supreme Court To Deny Stay On Florida Sports Betting

Responding to an order last week from U.S. Supreme Court Chief Justice John Roberts, U.S. Solicitor General Elizabeth Prelogar on Wednesday argued a stay, or delay, in allowing mobile sports betting in Florida should be rejected.

October 18, 2023

North Carolina Sports-Betting Rules Take Aim At Fantasy Pick'em Games

North Carolina regulators have released their first set of proposed rules governing mobile sports betting, which include an attempt to limit the “pick’em” style fantasy games that have been under fire in recent months.

October 18, 2023

Virginia Sees Sports-Betting Enforcement Jump In 2023

Despite a recent uptick in enforcement compared with previous years, Virginia regulators have said that nothing has changed in the way the state has issued sanctions for sports-betting violations.

October 18, 2023

UK Kicks Off Consultation On Statutory Levy

The UK government has opened its consultation on a new statutory levy to fund problem gambling research and treatment, as announced in April's white paper on gambling reforms, with online operators expected to fund the levy at more than double the rate of land-based licensees.

October 18, 2023

Daily Dash: Fed Governor Shuns Digital Dollar Plans

A Fed governor has said the US payment system does not need a central bank digital currency, the Bank for International Settlements has published its final report on "harmonised" ISO 20022 data requirements, and a US regulator has warned that AI could cause financial havoc.

October 18, 2023

Wirex To Change E-Money Contract After UK Regulator Intervention

The Financial Conduct Authority has said that Wirex has committed to making changes to comply with consumer rights laws in the UK.

October 18, 2023

New Bill Could See 'Biggest Overhaul' Of Australia's Payment System In 35 Years

Australia’s Treasury has opened a consultation on amendments to the Payment Systems (Regulation) Act 1988, in what some have called the "biggest overhaul" of the country’s payment rules in 35 years.

October 17, 2023

35 Years And $41bn Later, Indian Gaming Regulatory Act Still Standing

When U.S. President Ronald Reagan signed the Indian Gaming Regulatory Act on October 17, 1988, the federal government once again violated the sovereignty of Native American tribes even as it set tribal gaming on the path to a $40bn market.

October 17, 2023

Virginia Supreme Court Reinstates Ban On Grey-Market Machines

The American Gaming Association has applauded the Supreme Court of Virginia’s decision to overrule a lower court injunction and reinstate the state’s ban on skill-game machines, but acknowledged the issue is not settled.

October 17, 2023

Daily Dash: Compliance Top Of Mind For FCA Whistleblowers

The UK's Financial Conduct Authority (FCA) has revealed that compliance concerns were the top priority for whistleblowers in Q2, the Bank of Canada has designated Visa and Mastercard as "prominent payment systems", and Booking.com is facing a class action over payments failures.

October 17, 2023

Chilean Regulator Expands Permissible Services Of Non-Bank Card Acquirers

Chile’s Financial Market Commission has issued a new rule that allows non-bank card acquirers to carry out complementary activities to their main business line.