Compliance Updates
Swifty Global (Dear Cashmere Holding Company), Confirms the Award of its UK Gambling License
Dear Cashmere Holding Company, known as Swifty Global (Swifty), is a technology company focused on creating ground-breaking solutions in the Financial and Sports Betting Sectors. The company has developed two disruptive mobile applications (apps) for sports predictions and a digital wallet which encompasses Artificial Intelligence (AI) and Cryptocurrency/Blockchain Transactions.
Following its award of the Curacao license in November 2021, Swifty is now pleased to announce that it has successfully obtained its UK gambling license. The coveted UK license is the “Gold Standard” and one of the most difficult gambling licenses in the world to obtain. Its award now allows Swifty to upload its eagerly anticipated Swifty Predictions application to the UK Apple and Android stores, allowing users in the UK to download the app and register their account. In addition, Swifty has completed their 3rdparty security audit and is now adding the relevant payment providers. This couldn’t take place until the UK license was approved. Once the payment gateway is live, the software will be submitted for certification which, once obtained, will be made available in the licensed regions. Swifty’s in-house development team are working overtime to ensure that the product goes live as quickly as possible. The commercial team is simultaneously working on obtaining several further gambling licences, including for certain states in the USA.
To grow its user base in the licensed regions, Swifty is preparing to roll out its aggressive marketing plan, with the initial focus being to capture as many users as quickly as possible. From this point, the highly interactive Swifty predictions app brings a new form of engaged betting to users which Swifty is confident will stimulate a substantial amount of viral marketing.
After the successful “soft launch” of its Digital Wallet during the month of March, where several thousand users downloaded and used Swifty’s pre-configured digital currency wallet, the official launch of both the Swifty Wallet and Swifty Predictions app will take place in May. The official launch functions are expected to encompass several celebrity endorsements.
The Swifty Wallet will offer a referral scheme within the wallet itself. This will allow users to refer the app to other users, thereby earning credits which will be cashed in against the Swifty Token. The Swifty Token is scheduled to be launched once Swifty’s user base has reached a critical mass. The company anticipates this being in Autumn 2022. Referral vouchers will also double up to enter referrers into weekly prize draws.
Swifty will aggressively target the UK market to rapidly gain a lucrative share of the existing market whilst also creating a new category of gambling with its proprietary “swipe” technology for micro betting. This will create a new market of users who enjoy a more social, fun, and engaging form of gambling. According to the UK Gambling Commissioner, the UK’s online sports betting and casino gambling market was worth 6.9 billion pounds between March 2020 and April 2021. This was up 18.4% from the previous year. Despite the size of the UK market, there are only 287 companies that have a remote betting operating license and 469 companies that have a gambling software development license in the UK.
Swifty Global CEO, James Gibbons, commented, “We are ecstatic to have finally obtained this license following months of processes to demonstrate our compliance. We were always confident of obtaining the license since, in addition to our compliance, our technology, AML, and KYC capability is both next generation and world leading. However, it is a process that we had to go through, and we are very pleased to now finally be in the game within one of the world’s most active and lucrative gambling markets. We are excited to launch the Swifty Predictions app, especially since it’s within a few weeks of the successful launch of our Swifty Wallet. I am extremely proud of what we have accomplished and incredibly optimistic about our next quarter of business and beyond.”
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Belgian gaming regulator
Belgian Regulator Supports New Law for Tougher Player Protection and Increased Oversight
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The Belgian gaming regulator Kansspelcommissie (KSC) has issued an endorsement of a proposed legislative bill aimed at strengthening player protection and enhancing regulatory oversight over gambling in Belgium.
The draft legislation’s key provisions include a proposed weekly deposit cap of €200 ($232.85) per gambling platform, a prohibition on gambling with credit, restrictions on the number of betting licences issued to newsagents and an extension of the national gambling self-exclusion register to include bars. The bill also proposes limits on the number of slot machines permitted in bar settings.
The bill also seeks to address the regulator’s concerns about its own operational capability and staff shortages. It proposes that the regulator must have at least 10 full-time members of staff, and it would also increase the maximum number of police officers that can be seconded to the commission be from four to eight.
While the KSC has broadly endorsed the bill’s objectives, it has recommended a phased rollout for certain measures, particularly the expansion of the exclusion system, which is expected to be fully implemented by May 2026. The commission also expressed some reservations about a total ban on credit card gambling.
The post Belgian Regulator Supports New Law for Tougher Player Protection and Increased Oversight appeared first on European Gaming Industry News.
AUSTRAC
AUSTRAC Cracks Down on Cryptolink for Late Reporting
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AUSTRAC has issued Cryptolink an infringement notice of $56,340 and accepted a court-enforceable undertaking that addresses the company’s AML/CTF deficiencies.
The action follows AUSTRAC’s Crypto Taskforce identifying late reporting of large cash transactions and weaknesses in the company’s money laundering and terrorism financing risk assessments.
AUSTRAC CEO Brendan Thomas said the package of infringement notices and the enforceable undertaking is designed to ensure useable intelligence does not slip through the cracks.
“The infringement notice addresses previous non-compliance around reporting and the enforceable undertaking seeks assurance that Cryptolink has improved its risk assessments and strengthened its AML/CTF controls,” Mr Thomas said.
“Crypto ATMs are one of the highest risk money laundering channels in Australia at the moment. They are being exploited by criminals to launder money and move scam proceeds. This is not conjecture. It’s what our Crypto Taskforce observed and has been backed up by the work of our law enforcement partners.”
As part of the enforceable undertaking, Cryptolink must engage third party reviewers to:
• validate whether the business has reported all required threshold transactions to AUSTRAC
• assess whether the business has implemented effective controls for large cash transactions
• review Cryptolink’s money laundering and terrorism financing risk assessment to ensure it is fit-for-purpose.
Cryptolink has fully cooperated with AUSTRAC and paid the infringement notice in full. Payment of an AUSTRAC infringement notice is not an admission of liability.
The enforcement action comes after intensive engagement with crypto ATM operators since late 2024.
Working in partnership with law enforcement, AUSTRAC’s Crypto Taskforce estimated that 85% of transactions made by the 90 most prolific crypto ATM users were the proceeds of scams and money mule activity.
“Scams are one of the biggest drivers of suspicious activity and criminals have been using crypto ATMs to move and cash out stolen funds,” said Mr Thomas.
A recently released Australian Institute of Criminology report found more than 40% of cybercrime victims are revictimised, often within months.
“With this in mind we want people to be cautious of making transactions to any wallet they don’t control and thinking twice in circumstances where someone asks you to deposit money into a crypto ATM.”
The second stage of the Crypto Taskforce is focussed on high-risk operations.
“Criminals don’t care how they hurt people, they care about making money,” said Mr Thomas.
“We want to work with the digital currency exchanges to harden the sector against exploitation but if operators don’t take this seriously, we will take action.”
The post AUSTRAC Cracks Down on Cryptolink for Late Reporting appeared first on European Gaming Industry News.
Australia
RTG Global Awards to be Presented During Regulating the Game 2026 Gala Dinner on 10 March 2026
Reading Time: 2 minutes
Momentum is building for the inaugural RTG Global Awards – a new global platform celebrating excellence in leadership, innovation and impact across the gambling industry.
Designed to spotlight those advancing integrity, safer gambling and sector resilience, the awards have attracted international attention from organisations driving meaningful reform and raising industry standards.
To be presented at the Regulating the Game 2026 Gala Dinner on Tuesday March 10, 2026 at the Sofitel Sydney Wentworth, the RTG Global Awards recognise excellence across leadership, safer gambling, compliance, technology innovation and community impact.
Paul Newson, principal at Vanguard Overwatch and founder of Regulating the Game, said the awards have struck a chord with the sector:
“There’s a genuine need to acknowledge those striving to lift standards and lead with purpose. The RTG Global Awards provide a platform to celebrate excellence, integrity, and innovation – and to champion those shaping a stronger, more sustainable industry.”
The RTG Global Awards feature six categories:
Leadership Voice – Recognising principled, reform-focused leadership that strengthens capability, trust and integrity.
Safer Gambling Champion – Celebrating initiatives that deliver meaningful harm minimisation outcomes.
Compliance Excellence – Highlighting uplift in AML, risk culture and regulatory compliance.
RegTech Solution of the Year – Showcasing technologies improving sector integrity and compliance.
Community Impact Initiative – Rewarding projects delivering tangible community benefit.
Emerging Leader – Spotlighting rising talent (under 40) driving positive change.
Nominations are now open – anyone can put forward a colleague, organisation or initiative that exemplifies leadership and impact.
The RTG Global Awards judging panel brings together internationally respected leaders with deep expertise across integrity, gambling law and safer gambling, including:
Khalid Ali, Chief Executive Officer, International Betting Integrity Association (IBIA)
Jamie Nettleton, Partner, Addisons, and former President, International Masters of Gaming Law (IMGL)
Tracy Parker, Vice-President, Policy, Standards & Accreditation, Responsible Gambling Council (RGC)
Together, they bring a wealth of global experience and insight to the judging process – ensuring the awards reflect genuine excellence, leadership and impact across the international gambling sector.
The post RTG Global Awards to be Presented During Regulating the Game 2026 Gala Dinner on 10 March 2026 appeared first on European Gaming Industry News.
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