The Malta Gaming Authority has revealed that it acted on a total of 18 operator licences in the first six months of 2019. These are part of its efforts to clamp down on money laundering and terrorist financing.
The full extent
In total, 11 were suspended and another seven were cancelled altogether. It also mentioned that 11 reprimand notices have been issued, as have eight administrative fines.
Peter Spiteri, Chief Officer of Finance & Programme Management at the Malta Gaming Authority, said: “A lot has been done by the authority to ensure that the implementation was completed effectively and all systems and procedures cater to the new requirements.
“Despite various challenges facing the sector over the past years, the gaming sector continues to consolidate its standing within the Maltese economy. The MGA strives to ensure that the industry in Malta remains compliant with an evolving set of regulations that cater for newly emerging risks and maintains a strong reputation.”
All-in-all, 23 international cooperation requests were sent to the MGA during the first half of this year. It sent an additional 33 itself. These covered various areas, including sports integrity, criminal activity by players and unregulated local operators and entities.
On top of the above, 597 criminal probity screening tests have been undertaken for both land-based and remote gaming activity. Meanwhile, 1,753 help requests were sent to the Player Support Unit.
The PSU also resolved 1,915 queries during H1 2019.
An important part of the Maltese economy
According to recent statistics, online gambling makes up 13% of the total economy in Malta. Experts have also expressed concerns that changes to digital laws in Europe could have an adverse effect on both the industry and country here.
However, concerns have been expressed about corruption in some areas of Maltese iGaming. The MGA prompted this crackdown after obtaining information from authorities, compliance reviews, formal investigations and audits.
