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Australia Set To Abolish High-Value Cash Payments
29th Jul 2019 | Written by:
Paying for most goods and services with more than A$10,000 ($6,900) in cash will become a criminal offence in Australia from January next year, under a new law proposed by the government.
Australia: Treasury Consults on Currency (Restrictions on the Use of Cash) Bill 2019
26th Jul 2019 | Written by:
On July 26, 2019, the Australian government launched a public consultation on the Currency (Restrictions on the Use of Cash) Bill 2019, which, as noted in the explanatory memorandum, introduces...
UK Gambling Commission Inches Closer To Credit Card Ban
25th Jul 2019 | Written by:
The future of gambling with credit cards hangs in the balance after the UK Gambling Commission confirmed it will open a consultation that is expected to end in an all-out ban.
Kenya's M-Pesa 'Effectively Banned' From Gambling Transactions
12th Jul 2019 | Written by:
Kenya’s gambling regulator has ordered Safaricom, the telecoms firm that operates mobile money giant M-Pesa, to suspend the modes of transactions frequently used by a list of 25 gambling operators.
Israel: Central Bank Publishes Position Paper on Banks' Mobile Payments Application Activity
10th Jul 2019 | Written by:
On July 9, 2019, the Bank of Israel released a policy paper in which it states its position in relation to the issue of banks’ payments application activity....
Stripe Pressured Over Donations To Far-Right Extremist Groups
4th Jul 2019 | Written by:
Stripe is being targeted by anti-racism campaigners for continuing to process payments for far-right extremists in the United States and Europe, highlighting the reputational risk to payment...
Australia's Macquarie Bank Blocks Credit Card Gambling Transactions
1st Jul 2019 | Written by:
Martin John Williams
Sydney-based Macquarie Bank has introduced an industry-first block on gambling services for credit card users to improve the “financial wellbeing of its customers”.
PSD2: Tracking the Implementation at EU and Country Levels
26th Jun 2019 | Written by:
PSD2 entered into force on January 13, 2018 repealing Directive 2007/64/EC (PSD1). The revised Payment Services Directive (Directive (EU) 2015/2366), also known as PSD2, introduced new obligations...
Former OFAC Director Pours More Cold Water On Iran Sanctions Workaround
20th Jun 2019 | Written by:
The former head of the U.S.’ sanctions authority has said INSTEX, the payment instrument set up in Europe to enable trade with Iran, is unlikely to ever see success regardless of whether it enables...
Payment Providers Draw Up Expansion Playbook As U.S. Sports Betting Grows
20th Jun 2019 | Written by:
U.S. payment providers in the betting market say they are working on a compliance model that can be deployed as soon as a state regulator gives the green light to sports betting, essentially...
Germany Bans First Payment Provider, Threatens Enforcement Campaign
18th Jun 2019 | Written by:
Germany has barred a payment provider from trading with what state regulators maintain are illegal online casinos and secondary lottery operators and promised that more bans are to come.
UK Sanctions Policy 'Fragmented And Incoherent', Committee Claims
13th Jun 2019 | Written by:
The UK’s Foreign Affairs Committee has slammed the government’s sanctions programme, calling for greater clarity on post-Brexit planning and pushing for the introduction of sanctions targeted...
Staggered Introduction Of UK Anti-Fraud Checks May Distort Market, Industry Warns
7th Jun 2019 | Written by:
Restricting the initial implementation of the UK’s anti-fraud name check system could distort the market and even help fraudsters better target their activities, the country’s finance industry...
Wire Act Ruling A Win For Gambling Payment Processors
6th Jun 2019 | Written by:
A New Hampshire federal court's ruling that the Wire Act applies only to electronic sports gambling should be a significant reassurance to payment processors and providers operating in other types...
India: Reserve Bank Publishes Report on Benchmarking Payment Systems
5th Jun 2019 | Written by:
On June 4, 2019, the Reserve Bank of India (RBI) published a report on the payment systems and payment instruments present in India in comparison with other countries such as Australia, Brazil,...
UK Defiant On Iran Sanctions Workaround In Face Of US Pressure
31st May 2019 | Written by:
The UK government is standing by plans to establish a new payment system circumventing US restrictions on trade with Iran, despite fresh threats of sanctions from across the Atlantic.
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