Malta Gaming Authority (MGA) publishes key highlights of 2018
The Malta Gaming Authority (MGA) has published key 2018 industry highlights.
In yesterday's blog we told you about the £19.7 million fine imposed by the UK Gambling Commission for the year ending December 31, 2018. Today, in our blog, we have some highlights to share from the published reports of the Malta Gaming Authority (MGA). It appears that the regulator was quite busy as we will examine next.
It was a busy year for the MGA that continued to work with the financial intelligence analysis unit (FIAU) to strengthen gaming sector oversight. This included 33 anti-money laundering CFT examinations, 73 notices of breach, 16 notices of reprimand, the cancellation of eight licenses and suspension of four other licenses. The regulator reported that they administered 139 fines on operators in breach. This is not all however as the MGA's Fit and Proper Committee determined that 63 companies or individuals were unsuitable for a licence or significant role with a licensee. The regulator received 209 license applications and issued 93 with eight license applications rejected.
New gaming laws were enacted on August 1, 2018, to enhance supervision and good governance.
New gaming law on August 1, 2018
On August 1, 2018, a new gaming law was enacted to simplify regulation while making it more effective. This is in addition to both external and internal initiatives focused on supervision and governance of the gaming sector.
We can see from the annual report that the Maltese Gaming Authority (MGA) is serious about protecting its reputation as a serious regulatory body. This can only serve to protect the interests of the gambling industry and ultimately its integrity.