Market & Regulatory Update

We have carefully selected relevant news stories that you should be aware of from April 2019.


UKGC: Latest AML news for gambling businesses 

29th April 2019: In support of the National Economic Crime Centre’s coordinated intensification week – focussed on the regulated sector’s compliance with anti-money laundering and counter terrorist financing measures – we have conducted a series of inspections of casino operators across Great Britain.

The purpose of these visits was to offer guidance and support to casino operators, raise awareness of key failings in anti-money laundering and counter terrorist financing, and to highlight areas of good practice that have been identified during compliance and enforcement activity.

We remain committed to raising standards in anti-money laundering and counter terrorist financing across the casino industry, and have encouraged operators to make more progress in this area (UKGC).


ICO, NCSC to partner

26th April 2019: ICO, NCSC to partner on better support for UK breach victims. The U.K. National Cyber Security Centre and the Information Commissioner’s Office will collaborate to improve response and support to those affected by data breaches, Computer Weekly reports. An agreement drawn up by the two organizations outlines the roles and responsibilities each takes up when a cyberattack occurs (iapp).


Competing CCPA amendments sculpt law’s scope

26th April 2019: Competing CCPA amendments sculpt law’s scope. The California Consumer Privacy Act, passed in June 2018, includes various consumer rights and business obligations regarding consumer personal information. This provision has revealed the divide between privacy advocates and industry groups, perhaps more than any other issue, in the ongoing effort to finalise the CCPA prior to its Jan. 1, 2020, operational date (iapp).


EU aims to regulate AI ethics

23rd April 2019: EU aims to regulate AI ethics. Following the success of GDPR in setting the global standard for data protection, the European Union is doubling down on its position as the ethical regulator for tech. April 9, a high-level expert group set up by the European Commission and comprising 52 independent experts representing academia, industry, and civil society, presented its first set of ethical guidelines for artificial intelligence (iapp).


HMRC warns of surge in tax refund scam texts

20th April 2019: HMRC warns of surge in tax refund scam texts which trick you into handing over bank details. HMRC processes rebates in April and May so there’s a spike in fraud messages (thesun).


U.K. Department exposes 300 email addresses

18th April 2019′: The U.K. Department for Digital, Culture, Media and Sport accidentally exposed the email addresses of more than 300 people, BBC News reports. As it sent a news release to journalists, “human error meant email addresses could be seen by others,” a DCMS spokesperson said. Digital Minister Margot James called the incident “embarrassing.” “It was an error and we’re evaluating at the moment whether that was a breach of data protection law,” James said (iapp).


Mastercard payout – Ruling revives £14bn class action lawsuit

17th April 2019: Mastercard payout – Ruling revives £14bn class action lawsuit. Millions of people in Britain might soon be given a £300 payout after a surprise court ruling revived a £14bn lawsuit against Mastercard.
The claim, first made by former financial ombudsman Walter Merricks, alleges 46 million consumers paid higher prices in shops than necessary due to inflated card fees (inews).


ICO opens Age Appropriate Design consultation

16th April 2019: ICO opens Age Appropriate Design consultation. The Information Commissioner’s Office (ICO) has opened consultation on a new set of standards for ‘age appropriate design’, through which it aims to protect children from the primary risks of online services including social media, connected toys, online games, and streaming platforms (Bit-Tech).


TSB pledges refunds for fraud victims

15th April 2019: TSB pledges refunds for fraud victims. TSB has pledged to refund customers who become victims of any type of fraud, claiming it is the first UK bank to do so (Credit Strategy).


Five gaming firms in breach of ASA rules on under-18 gambling ads

4th April 2019: Five gaming firms in breach of ASA rules on under-18 gambling ads. Evoke Gaming, Unibet, Multilotto and PlayOJO identified by ASA as producing ads that target minors. The Advertising Standards Authority (ASA) has banned adverts belonging to five gambling operators after an investigation found they were being shown on child-friendly websites. The ASA investigation was conducted with the use of a “child avatar” which aimed to simulate children’s browsing activity online (Source).


Treasury Committee

2nd April 2019: Treasury Committee – the latest evidence from the Economic Crime inquiry; Mark Tingey, Head of Financial Crime Operations, Metro Bank, Ruth Evans, Chair, Authorised Push Payments Scams Steering Group and Richard Lloyd, Independent Adviser, Authorised Push Payments Scams Steering Group.


We hope that you found the above update useful. Please let us know if there are any topics you want to hear more or less about.

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