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Nigeria’s gambling sector continues to undergo significant transformation nearly eighteen months after a landmark ruling by the Supreme Court fundamentally altered the regulatory structure governing lotteries and games of chance across the country. The decision, delivered in November 2024, transferred regulatory authority from the federal government to individual state governments, triggering a wave of legislative and administrative activity as states move to establish or str

The Financial Action Task Force (FATF) continues to closely evaluate the development of anti-financial crime systems throughout sub-Saharan Africa, issuing detailed assessments that measure the effectiveness of institutional safeguards across numerous jurisdictions. Within Central Africa, governments are undertaking far-reaching reforms to strengthen financial intelligence capabilities and reduce vulnerabilities associated with resource-based industries, cross-border financia

New Zealand’s financial oversight framework has come under renewed scrutiny following revelations surrounding Worldclear Limited, a specialized payment service provider accused of operating with severe anti-money laundering deficiencies while processing nearly NZD 500 million in annual transactions. The controversy emerged after the Department of Internal Affairs conducted an on-site inspection of the Hamilton-based firm in March 2018 and uncovered systemic failures in the

The Regulation of Online Gambling Rules 2026 officially came into effect on 1 May 2026, coinciding with the enforcement of the Promotion and Regulation of Online Gaming (PROG) Act 2025, marking the introduction of India’s fully structured legal framework for oversight of the online gaming sector. The regulatory package, which follows its initial publication on 22 April 2026, establishes a central supervisory authority and introduces detailed rules intended to clearly distingu

South Korea’s regulatory approach to virtual asset service providers is entering a defining phase as authorities consider a major shift in how financial oversight is conducted. At the center of the debate is a proposed move away from the long-established risk-based monitoring model toward a strict rule-based system that mandates reporting for high-value transactions. Under this new framework, any transfer exceeding a predetermined monetary threshold would have to be reported

Belgium’s regulated gambling sector recorded its first annual contraction since the onset of the COVID-19 pandemic, as newly released figures for 2024 reveal a notable downturn across the market. Data published on Tuesday by the national regulator shows that total gross gaming revenue (GGR) fell to €1.61 billion, representing a 4.86% decrease from the €1.69 billion reported in 2023. The decline was largely attributed to a sharp reduction in land-based gambling activity, e

The global financial system is confronting a new layer of risk as the Financial Action Task Force highlights the dangers posed by offshore virtual asset service providers that operate without a physical presence in the jurisdictions where they actively serve customers. According to international regulators, these platforms frequently function outside domestic oversight frameworks, creating vulnerabilities that can be exploited for money laundering and terrorist financing acti

Ben Cove, chief marketing officer of Logifuture, has urged policymakers to adopt a pragmatic approach as tensions continue between state and federal gambling authorities in Nigeria. The country’s regulatory trajectory remains unsettled amid ongoing jurisdictional disputes between different layers of government. In December, Nigerian President Bola Ahmed Tinubu rejected the proposed Central Gaming Bill, legislation that would have shifted oversight of the gambling sector to a

The UK Gambling Commission (UKGC) has launched a consultation on whether the destination of regulatory settlement payments made by licensed betting operators should be revised, potentially marking a significant shift in how such funds are handled. The consultation, which is open until 2 April, focuses on a proposed amendment to section 2.39 of the UKGC’s Statement of principles for determining financial penalties. At present, money paid by operators as part of regulatory se

On 1 January 2026, the European Union reached a decisive moment in its campaign against financial crime as the European Banking Authority formally completed the transfer of all anti-money laundering and countering the financing of terrorism responsibilities to the Authority for Anti-Money Laundering and Countering the Financing of Terrorism. The handover represents a major step toward centralizing oversight at the EU level and safeguarding the integrity of the single market.

The Middle East and North Africa Financial Action Task Force (MENAFATF) confirmed on January 5, 2026, that the United Arab Emirates has formally assumed the presidency of the organization for the 2026 term. Represented by Hamid Saif AlZaabi, the UAE steps into the leadership role at a decisive moment, as the region prepares for the third cycle of mutual evaluations and the full application of the Financial Action Task Force’s fifth round methodology. This transition signals a

Hong Kong’s Financial Services and the Treasury Bureau, together with the Securities and Futures Commission, have concluded consultations on the introduction of new licensing regimes for virtual asset dealers and custodians, confirming that operating such businesses without a licence will constitute a criminal offence. Under the proposed framework, unlicensed activity will be punishable by a fine of HK$5 million and up to seven years’ imprisonment, marking a major expansion o

While the European Union continues to push for greater banking consolidation across the continent, Italy’s banking landscape tells a far more complicated story. The attempted takeover of Mediobanca by Monte dei Paschi di Siena (MPS), involving two of Italy’s most prominent financial institutions, has unfolded as a complex interplay of financial manoeuvres, political decisions, and judicial scrutiny. Government support for the creation of a new banking powerhouse has ignited i

Brazil’s Federal Supreme Court has placed all municipal lotteries across the country on immediate hold, casting significant uncertainty over their future. The precautionary suspension follows a filing from the Solidarity Party, which argued that these locally run lotteries were violating national betting regulations. The decision, issued on Wednesday by Minister Nunes Marques, freezes every municipal law and decree that establishes, authorises, or governs lottery and spor