Insights Archive

October 17, 2023

UK Regulator Places Restrictions On Modulr

The UK’s Financial Conduct Authority has placed restricted activity measures on the embedded payments company regarding onboarding new customer segments.

October 17, 2023

India's Delta Corp Suffers Additional, Massive GST Claims

India’s goods and services tax (GST) authority has demanded 63.8bn rupees ($767m) in unpaid tax from casino operator listco Delta Corp’s online gaming subsidiaries, raising the parent’s GST bill to $2.8bn and further sinking company shares.

October 17, 2023

German Regulator May Start Rejecting Licence Applicants

The German gambling regulator will probably soon reject licence applications in the interest of speedier processing as it tries to dig itself out of a deluge of paperwork, the agency’s co-chairman has said.

October 16, 2023

Florida's Sports-Betting Launch Uncertain As Litigation Continues

Despite a series of legal challenges that have delayed its implementation, the 2021 tribal gaming compact between the Seminole Tribe and the state of Florida stands as a remarkable and landmark agreement, said an attorney who represents the tribe.

October 16, 2023

Regulatory Rush As Peru Publishes Decree For Online Gambling

Peru has published a regulatory decree to implement its online gambling law, marking the beginning of a 120-day countdown until the market is officially regulated and grey-market operations are illegal.

October 16, 2023

Equifax Fined £11m Over 'Entirely Preventable' Cyber Breach

The Financial Conduct Authority has fined credit reporting firm Equifax £11m for failing to safeguard UK consumer data, which it had outsourced to its parent company based in the US.

October 16, 2023

Hong Kong Regulators Under Fire As JPEX Fraud Victims Count Their Losses

As losses to the JPEX fraud climb to more than $180m, questions continue to be asked of Hong Kong regulators and how they failed to stop the crypto scandal before it happened.

October 16, 2023

Conservative Victory In New Zealand Augurs Online Tax Reform

New Zealand’s voters have turfed out the nation’s Labor government, guaranteeing a conservative successor and likely online gambling reforms that will tax local-facing offshore operators.

October 11, 2023

Colorado Proposes Stricter Rules For Pick'em Fantasy Games

Colorado regulators will hold a hearing later this month to discuss new rules that would limit, but not prohibit, the offering of pick’em-style fantasy sports contests in the state.

October 11, 2023

MGM Boss Describes Cyberattack As 'Corporate Terrorism'

The CEO of MGM Resorts International has offered additional details of the crippling cyberattack that shut down the company's computer systems in Las Vegas and eight states, but stressed that MGM never even considered paying a ransom to the hackers behind last month's incident.

October 11, 2023

Curaçao Minister Calls Complaints About Planned Changes 'Scaremongering'

Curaçao’s finance minister has hit back against a member of the opposition party’s criticisms of the country’s planned online gambling reform, calling it “scaremongering”.

October 11, 2023

Gambling Spend Mostly Unchanged Despite Cost Of Living Crisis, Says UK Regulator

The cost of living crisis has not shifted gambling spend in general, according to the UK Gambling Commission, but those most at risk are betting more even as their spending power decreases.

October 11, 2023

South Africa's Online Gambling Bill Stalled But Not Dead

South Africa’s draft bill that intends to “fill the gap in the law” around online gambling has stalled for more than a year; however, industry sources say it is not dead in the water just yet.

October 11, 2023

Daily Dash: Social Media Scams Continue To Wreak Havoc

A regulator has found that US social media users have lost $2.7bn to scams on the platforms since 2021, while a New York start-up has launched a product built on top of FedNow in a first.

October 11, 2023

CFPB's Chopra: More Regulation On Data Surveillance Or US Risks Becoming China

The Consumer Financial Protection Bureau (CFPB) is exploring a series of regulatory actions to address excessive data surveillance by payment platforms, director Rohit Chopra said warning the US may turn into a China-like market if platforms are left unchecked.

October 11, 2023

DORA Preparation Sparks Overhaul In Risk Management

The Digital Operational Resilience Act (DORA) is on its way to becoming enforceable, and experts are warning it is time to take stock and prepare for a significant change in risk management.

October 11, 2023

News In Brief: October 9-October 13, 2023

Sweden will join the international Macolin Convention on sports integrity, while Ecuador becomes the latest South American country to become embroiled in a match-fixing scandal.

October 10, 2023

Peruvian Players Demand Investigation Into Match Fixing

Peru’s football players association is on the defensive, demanding an investigation into match-fixing from the football association as they claim that they are being targeted.

October 10, 2023

Romania Legal Change Implementation Timeline 'Potentially Not Feasible', Says Lawyer

Romania’s government has approved legal changes to the country’s gambling laws that will increase licence costs and add new “special fees” to tackle gambling harms, alongside other restrictive requirements.

October 10, 2023

Daily Dash: California’s Money Transmission Act Now Law

California’s governor has signed the state’s Money Transmission Act into law, while the Bank of Lithuania has suspended the activities of an e-money firm.

October 10, 2023

US Consumers Claim Harm From PayPal Merchant Fees

A class action complaint filed last week in California claims that certain merchant agreements in PayPal’s contracts have led to higher consumer prices.