SiGMA

MGA issued seven fines totalling €85,000 in first six months of 2022

Posted: Jan 10, 2023 16:18 Category: Regulatory , Responsible Gaming ,

The Malta Gaming Authority issued seven fines amounting to a total of €85,000 during the first six months of 2022, according to a new report. During this period, the FIAU also issued a number of reprimands which amounted to €386,000.
MGA has just released the interim performance report for January to June 2022. The report outlines the accomplishments of the authority, the performance of the gaming industry as well as a way forward and analysis.

Supervisory Activities

Compliance is at the forefront of the authorities’ criteria. Over the six months mentioned above, was sure to enforce the law on all companies by having conducted 16 compliance audits, 114 desktop reviews and seven compliance examinations. This work was done together with the FIAU.
There were also a number of entities which failed the risk assessment of money laundering or funding terrorism. Four entities did not meet the authority’s fit and properness criteria while two applications were rejected.

In six months, the MGA conducted 626 criminal screening checks on key individuals from various land-based businesses and online gambling sectors. The MGA also found five operators who had breeched the Commercial Communications Regulations.
The MGA is also constantly working to assist and promote responsible gaming and in total 2.578 players requested the MGA’s assistance. There were mostly from 2022 and a small spill over from 2021.
An effort to reduce scams online, 22 cases of websites with misleading references were investigated, five of these were issued a warning letter.

National and International Cooperation

From January to June 2022, 122 alerts of suspicious betting were received. This prompted a number of enforcement agencies and regulatory authorities to make a total of 23 requests of information. The topics were concerning mostly to the manipulation of sporting events or violations of sporting regulations.
In addition, 278 allegations of suspicious betting from licensees and other parties were received. This resulted in 12 separate investigations by the authority.
A total of 64 requests for international cooperation were sent out by the authority mainly relating to background checks.
The first six months of the year the MGA also received just over 100 requests of information from foreign regulating authorities and governing bodies.

 

For more news visit: SiGMA

Related Posts

AffPapa & Roobet partner to…

AffPapa is thrilled to spread the word about its brand-new year-long collaboration agreement with Roobet – a crypto-centered online casino.…

Intouch Games fined by the…

The UK Gambling Commission has fined Intouch Games with a penalty of £6.1 million after failing a compliance assessment last…