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Malta bids buh-bye to Italian licensees following AML probe

malta-gaming-authority-purge-italian-licenseesMalta’s on-line playing regulator has parted firm with a number of of its Italy-based licensees following a probe into their actions.

In February, the Malta Gaming Authority (MGA) introduced it was conducting a probe of seven Italian licensees, asking every of them to offer solutions to 20 particular questions relating to their operations, together with their anti-money laundering (AML) protocols.

The probe got here shortly after Italian authorities busted an illegal online gambling ring linked to MGA licensee Phoenix International Ltd, which operated the Bsport24.com and B28sport.com domains. It was the newest in a collection of Mafia-connected busts linked to MGA-licensed playing websites.

Whereas the MGA has up to now been silent on the outcomes of its probe, Italian media retailers lately reported that a number of of those Italian MGA licensees had been discovered wanting and had severed their ties with the MGA.

The LB Group Ltd’s Leaderbet.com website reportedly had its MGA license cancelled as of February 27. Three different operators – Betting Leisure Group Ltd’s Betent.com, Pottery Mrc Ltd’s Potterbet, and Giodani Restricted’s Giodani model – reportedly opted to unilaterally ‘terminate’ their MGA licenses moderately than undergo additional scrutiny.

On a extra optimistic word, the Betn1 model of Sogno di Toloso Ltd has reportedly emerged from its regulatory proctology examination with flying colours. The corporate issued a press release saying it had acquired affirmation of “the correctness of its company insurance policies geared toward defending the patron / participant, compliance with the laws of every nation the place the MGA product and the neighborhood directives towards terrorism and cash laundering are provided.”

Playing accounts for roughly 12% of Malta’s economic output, and thus any aspersions forged on the MGA’s licensees symbolize an existential menace to Maltese society. As such, the MGA lately introduced the formation of a new anti-money laundering unit within the hopes of eliminating future embarrassing episodes stemming from the potential antics of its licensees.


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