GPWA Times Magazine - Issue 56 - July 2023

QUOTABLES Q U O T A B L E S “When recession strikes, fraud increases: People still have to pay the bills. At the same time, professional criminals prey on uncertainty, upheaval and chaos. A rise in fraud is coming in 2023 andwe all need to be ready for it.” —Simon Marchand, GeoComply VP of Product and Risk “While (online gambling) has beenaway for the government togenerate income, this shouldnot come at the cost of endangeringour people, let aloneminors,withactivities that bring about addictivebehavior aswell as an increaseof mental healthandfinancial problems, vices andcrime rates.” —Ricardo S. Cruz, Jr., Taguig-Pateros Representative, after filing a bill in April that seeks to outlaw online gambling in the Philippines “Withno intrinsic value, huge price volatility and no discernible social good, consumer trading of cryptocurrencies, like Bitcoin, more closely resembles gambling than a financial service, and should be regulated as such.” —Harriett Baldwin, U.K. Treasury Select Committee Chair, in a report released in May saying consumer cryptocurrency trading should be regulated as gambling “Whilst we will move quickly to start implementing White Paper commitments, we will alsowant to ensure that as wide a variety of experiences and expertise inform the way that those commitments are turned into practical reality. History shows toomany examples of well-meaning policy changes having unintended consequences for the public due to the way theywere implemented in the real world. We will not want tomake that mistake.” —Tim Miller, U.K. Gambling Commission Executive Director for Research and Policy G P W A t i m e s . o r g 10