Report: MGA reveals 25 operator licences were revoked in 2019
Maltese regulator also highlights licence application rejections based on AML and terrorism-related cases
The Malta Gaming Authority (MGA) suspended or cancelled 25 operator licences in 2019 and handed out 23 fines in relation to regulatory breaches.
In having released its annual report and financial statements for the previous year, the MGA detailed its efforts to combat improper activity from gambling operators.
The regulator cancelled 14 licences and suspended a further 11, as well as issued 20 warnings and 89 notices of breaches throughout the year.
It also received 89 applications for gaming licences, of which 44 were rejected or withdrawn, with 53 requests granted.
The MGA noted 15 individuals and companies failed to meet the standards of its Fit and Proper Committee, citing both the risks of money laundering and the funding of terrorism as key failures.
Additionally, 48 audits were undertaken in relation to compliance and anti-money laundering, while 1,300 criminal probity screening assessments took place.
As of 31 December 2019, the number of MGA-licensed companies, including online and land-based, stood at 294.
Heathcliff Farrugia, MGA CEO, said 2019 was “very challenging but at the same time [a] rewarding year” and he praised the implementation of the new Sports Integrity Unit.
Farrugia continued: “In its first months, this unit has already signed important collaboration agreements with international sport bodies in order to tackle betting-related corruption and ensure the integrity of sports.
“Such collaboration, both at a local and international level, was high on the agenda in 2019, and will continue being crucial in 2020, as a key determining factor in the ongoing fight against crime, corruption and money laundering,” he added.
Elsewhere, the MGA highlighted its aims for the future and confirmed the roll-out of a new corporate strategy plan for 2020-2022.
Targets for the first year include improving the MGA’s public image, developing a greater influence in terms of international policymaking, and an emphasis on protecting minors and vulnerable players.