Author: Christian Farrugia, Senior Corporate Administrator
15th April 2020

The Malta Gaming Authority (MGA) and the Financial Intelligence Analysis Unit (FIAU) have signed a new Memorandum of Understanding (MoU) on cooperation and exchange of information between the two parties. The main aim is to facilitate communication and to support effective sharing of information on matters of mutual interest within the gaming industry, namely anti-money laundering and the combating of financing of terrorism.

This MoU will further enhance training procedures, not just for members of both bodies but for individuals employed by MGA-licenced entities as well. Gaming operators are reminded of the importance to elect a competent Money Laundering Reporting Officer as one of the obligatory key function roles for licenced game providers. Said competency will continue to be assessed on a continuous basis by both the MGA and the FIAU as was done in the past, and quite possibly even more rigorously now as a result of the MoU, in a bid to maintain a high level of authoritative integrity in the Maltese gaming sphere.

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