The Malta gaming industry continues to remain resilient despite the global circumstances. Due to the rapidly evolving nature of the industry, the Malta Gaming Authority (MGA) continues to work towards improving the regulatory compliance standards to protect both the players and operators within the industry. Earlier this year, the Malta Financial Intelligence Analysis Unit (FIAU) released an Enforcement factsheet, providing operators with guidance on how to remain compliant with the Maltese AML standards. With operators around the world receiving warnings and fines from regulators, and with regulating authorities becoming increasingly stringent on issues such as AML and Responsible Gambling, now more than ever, is the time to review and revise any business risks you may be in danger of running. The MGA Enforcement factsheet provides practical examples of common failings, as-well as frameworks for operators to consider and implement to ensure they remain in a state of good regulatory health.

Looking back at the factsheet, the key takeaways, such as the identified four risk pillars of AML compliance, due diligence obligations, the role of the Money Laundering Reporting Officer and ongoing record keeping are still extremely relevant and applicable. The MGA, MFSA and FIAU are actively encouraging all operators to continue to assess their current operations, policies, procedures and risks, using the guidance provided in the Factsheet.