Malta Gaming Authority Revokes Six Licenses, Issues 10 warnings

The Malta Gaming Authority (MGA) announced in its recently published Annual Report that it had issued 10 warnings and cancelled six gambling licenses throughout the year 2022. According to the report, the MGA assessed a total of 16 administrative fines and three regulatory settlements, totaling €179,150 ($191,907) in cash penalties.

Revocations and penalties are being reduced

In 2022, the MGA cancelled fewer licenses than the previous year, indicating a downward trend. Prior to the pandemic, the authority revoked 14 licenses in 2019, while just six licenses were revoked in 2022. The MGA also reduced the amount of penalties issued from 31 in 2021 to 16 in the previous year. Furthermore, the number of warnings dropped from 64 in 2021 to just 10 in 2022.

100% up to 5BTC + 100  Free Spins!

New players only. Welcome Bonus – 100% bonus on your first deposit up to 5BTC

Casino

AML/CFT Examinations and Compliance Audits

The MGA conducted 28 compliance audits and 228 desktop evaluations in 2022. Additional Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) compliance tests conducted by the Financial Intelligence Analysis Unit (FIAU) or on behalf of the MGA supplemented these evaluations.

Remediation Measures and the Fit and Proper Committee

The Fit & Proper Committee judged six persons and corporations ineligible owing to suspicions about money laundering or terrorism financing. The audit also indicated that the FIAU subjected 25 licensees to remediation and/or administrative actions ranging from written reprimands to administrative penalties, totaling more than €738,000 ($790,336).

Player Safety and New Licensees

The MGA received 41 gaming license applications in 2022, 31 of which were granted and 21 were denied. The MGA prioritized player protection and responsible gaming in addition to inviting new licensees. The authority assisted 5,280 players who sought aid, and also conducted 85 responsible gaming-themed website checks, resulting in the discovery of 38 URLs containing deceptive material. To address responsible gaming issues, notices were published on the MGA website, and observation letters were delivered.

Player Safety and New Licensees

The MGA received 41 gaming license applications in 2022, 31 of which were granted and 21 were denied. The MGA prioritized player protection and responsible gaming in addition to inviting new licensees. The authority assisted 5,280 players who sought aid, and also conducted 85 responsible gaming-themed website checks, resulting in the discovery of 38 URLs containing deceptive material. To address responsible gaming issues, notices were published on the MGA website, and observation letters were delivered.

The MGA’s Commitment to a Fair Gaming Environment

MGA CEO Carl Brincat voiced his approval of the report, emphasizing the need of collaborative efforts to ensure a fair and sustainable gaming industry. He praised the authority’s commitment to staying ahead of evolving trends and issues, working relentlessly to build strong foundations that inspire trust and protect vulnerable individuals.

The MGA aspires to maintain a level playing field, foster innovation, and guarantee Malta remains a chosen place for respectable gaming operators as the global gaming scene evolves.

350% or 5BTC + 150 Spins!

New players only. Welcome Bonus – 350% bonus on your first deposit up to 5BTC

Casino

The post Malta Gaming Authority Revokes Six Licenses, Issues 10 warnings appeared first on iGaming.org.

Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124