PaymentsCompliance: Ride-Hailing Apps Undeterred By Prepaid KYC Issues

17TH APR 2018 | WRITTEN BY: CHRIS SIEROTY IN WASHINGTON, D.C. Ride-hailing services such as Lyft and Uber have changed the way people travel around the cities where they live and work and created a new market for the use of prepaid instruments — but regulatory issues mean drivers are still limited to using bank accounts to get … Continue reading PaymentsCompliance: Ride-Hailing Apps Undeterred By Prepaid KYC Issues

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GamblingCompliance: New Prepaid Card Rule Released, But Impact On Casinos Still Unclear

1ST FEB 2018 | WRITTEN BY: CHRIS SIEROTY The prepaid card option has quietly become a way of transferring funds on and off online gambling sites in New Jersey, while casinos in Nevada and regional properties have welcomed the financial instrument as a viable payment option. But payment executives and attorneys believe the gaming industry has been slow … Continue reading GamblingCompliance: New Prepaid Card Rule Released, But Impact On Casinos Still Unclear

GamblingCompliance: Kentucky Business Community Lobbies For Casino Gaming

13TH FEB 2018 | WRITTEN BY: CHRIS SIEROTY Some of Kentucky’s most influential business leaders are calling on lawmakers to approve a constitutional amendment allowing voters to decide whether casinos should be legal and with every tax dollar designated to fix the state’s ailing pension system. Sarah Davasher-Wisdom, CEO of Greater Louisville, expects the measure to … Continue reading GamblingCompliance: Kentucky Business Community Lobbies For Casino Gaming

GamblingCompliance: Gaming Industry Seeks Modest Changes To AML Requirements, Senator Says

18th Jan 2018 | Written by: Chris Sieroty Nevada Democratic Senator Catherine Cortez Masto told federal authorities on Wednesday that the gaming industry would welcome a review of some money laundering laws and Bank Secrecy Act (BSA) requirements which have created a compliance burden for casinos. During a Senate Banking, Housing and Urban Affairs Committee hearing, … Continue reading GamblingCompliance: Gaming Industry Seeks Modest Changes To AML Requirements, Senator Says

GamblingCompliance: States Start Asking: Should Loot Boxes Be Regulated As Gaming?

24th Jan 2018 | Written by: Chris Sieroty Lawmakers in Washington state and Indiana have introduced similar bills calling on gaming regulators and law enforcement officials to determine if loot boxes are a form of gambling, a legislative maneuver being welcomed by an advocacy group. “We are not against gambling as a practice,” said Christopher Hansford, … Continue reading GamblingCompliance: States Start Asking: Should Loot Boxes Be Regulated As Gaming?

GamblingCompliance: U.S. Congress Takes First Steps Toward AML Reforms

10TH JAN 2018 | WRITTEN BY: CHRIS SIEROTY The U.S. Congress began a series of hearings on Tuesday to consider ways to reform money laundering and illicit finance laws applied to casinos, as a president of a payments company argued the current system is broken and driven by perverse incentives. “Our current anti-money laundering (AML) and … Continue reading GamblingCompliance: U.S. Congress Takes First Steps Toward AML Reforms

GamblingCompliance: U.S. Gaming Industry Gets Some, But Not All, Wishes Granted In Tax Bill

21ST DEC 2017 | WRITTEN BY: CHRIS SIEROTY Congressional Republicans delivered a massive overhaul of U.S. tax laws to President Donald Trump on Wednesday, approving significant tax cuts for both individuals and businesses, including the gaming industry. The Tax Cuts and Jobs Act sharply cuts the corporate tax rate as corporations will face a 21 percent statutory tax … Continue reading GamblingCompliance: U.S. Gaming Industry Gets Some, But Not All, Wishes Granted In Tax Bill