Insights Archive

March 22, 2023

SWIFT ISO 20022 Migration Begins As Global Systems Announce Go-Live

SWIFT has announced that its migration to the ISO 20022 messaging standard for cross-border payments and reporting (CBPR+) has begun. Meanwhile, large value payment systems in the EU, Canada and Australia have also switched over.

March 22, 2023

PayPal Fixes AML Programme To End Australian Investigation

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has accepted undertakings from PayPal to end an investigation into its anti-money laundering and counter-terrorism financing controls.

March 22, 2023

Brazil Senate Report Questions Tax Forecasts For Sports-Betting Market

A study published by the Brazilian Senate has expressed misgivings about regulation of the country’s sports-betting market, particularly on taxation, warning that there is no good estimate of the yearly revenue of a fully functioning legal market.

March 22, 2023

North Carolina Sports-Betting Bill Begins Legislative Journey

North Carolina’s latest effort to legalize mobile sports betting cleared its first hurdle on Tuesday, but the bill still has many more stops on its path to becoming law.

March 22, 2023

Nevada Regulators Weigh Proposals To Speed Up Technology Approvals

The Nevada Gaming Control Board heard from representatives of various gaming industry suppliers, as well as industry trade organizations, on Tuesday as regulators took an initial step to address concerns over the time it takes to approve new gaming technology for deployment in the U.S.' largest casino market.

March 22, 2023

European Countries Address Low-Income, Minority Gambling Harm

Fresh concerns surrounding gambling harms experienced by low-income households and minorities have come to light in Great Britain, Sweden and Cyprus as the cost of living crisis rages on across Europe.

March 21, 2023

Compliance Overload: Pay360 Dives Down Regulatory Rabbit Hole

With recent regulatory consultations reaching a total of 75, panellists at Pay360 mulled over just how overwhelming compliance is becoming for payments firms.

March 21, 2023

US Judges Uphold Visa, Mastercard Interchange Fee Settlement

Having amassed 630,000 lawyer-charged hours, a US appeals court has confirmed that payout from the $5.6bn landmark settlement against Visa and Mastercard should not be delayed further, despite a dispute between gas station franchisors and franchisees.

March 21, 2023

Data Sharing To Go COSMIC In Singapore Under New Legal Framework

A new bill has been introduced to parliament in Singapore that could provide the legal basis for a new approach to data sharing between regulated financial institutions.

March 21, 2023

PAGCOR Explores Licences For Supplying Foreign Online Markets

The Philippines’ gambling regulator is hunting for new sources of revenue ahead of possible privatisation of its casino operations, including from licensing service providers that support foreign-based online gambling companies.

March 21, 2023

New Jersey Committee Passes Bills To Address Gambling Advertising

In the latest sign of U.S. legislative pushback on sports-betting advertising, bills to condemn the volume of gambling ads and ban marketing partnerships between sportsbook operators and New Jersey colleges have been advanced by the state Assembly’s gaming committee.

March 21, 2023

Benin Government Targets Gambling Regulation Update

Benin’s government is looking to create a gambling monitoring system, as the country joins the wave of African nations using technology to closely track licensees.

March 20, 2023

UK Regulator’s Latest Dear CEO Letter Should Not Be Surprise To Payment Firms

Experts tell VIXIO they are surprised the Financial Conduct Authority has not gone further in its new letter to payments firms covering safeguarding, money laundering and environmental, social and governance (ESG) compliance issues. But the days of the softer regulator approach could be over.

March 20, 2023

Nigeria Set To Be First African Country To Implement Open Banking Framework

Nigeria has approved final operating guidelines for open banking, becoming the first country in Africa to do so, as experts tell VIXIO that participants will need to embrace the opportunity to succeed.

March 20, 2023

PSR Proposes Overhaul Of Penalties Regime In New Consultation

The UK’s Payment Systems Regulator (PSR) has opened a new consultation on proposed changes to the way that penalties for payment firms are calculated, in an effort to make the process fairer, clearer and more transparent.

March 20, 2023

US Agency Seeks Input On Data Brokers

The US Consumer Financial Protection Bureau has launched an inquiry into companies that track and collect consumer information as it eyes future rulemaking into data brokers.

March 20, 2023

Tennessee To Drop Data Mandate As Part Of Sports Wagering Reshuffle

The first U.S. state to impose a mandate for sports-betting operators to use official league data would also become the first to repeal the requirement under statutory amendments approved by two House and Senate committees last week.

March 20, 2023

Silence Greets Pleas To Delay Adopting Proposed Tribal Gaming Rules

So far, it does not look like federal regulators are willing to back off their newly-proposed rules for the $40bn Indian gaming industry despite several objections to proposals that include allowing for state-wide online gaming within tribal compacts.

March 20, 2023

Kenya Monitoring System Bears Fruit, Other Countries Follow Suit

African nations seeking to increase their tax revenue from online gambling through enhanced oversight are reaping the rewards, as the Kenya Revenue Authority reveals the success of its new real-time monitoring system.

March 17, 2023

Week In Crypto: Banking Partners Wanted As Industry Scrambles For Replacements

After a trio of collapses among crypto-friendly banks, US lawmakers argue that Trump-era deregulation is to blame. Meanwhile, crypto firms seek out new banking partners willing to take a chance on the high-risk sector.

March 17, 2023

Full Steam Ahead For FedNow As July Launch Date Announced

The US Federal Reserve targets support for all aspects of the economy as it pins down a go-live date for its new instant payments service.