alta’s Financial Intelligence Analysis Unit (FIAU), in conjunction with the Malta Gaming Authority (MGA), published Thursday a revised version of the Implementing Procedures Part II for the Remote Gaming Sector.
The changes, effective from July 2, aim to address amendments to the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) and to the Implementing Procedures – Part I, as well as to reflect realities that FIAU and MGA officers have been encountering in the course of supervisory activities.
The key revisions made to these Implementing Procedures are the following:
In order to further assist interested parties, the FIAU has also published on its website a copy of the original Implementing Procedures Part II with all the changes carried out tracked out for ease of reference.
MGA said that these Implementing Procedures and its amendments focus on certain aspects of the PMLFTR and their application that warrant further elaboration at industry-specific level in order to ensure their correct interpretation and application by licensees, fulfilling their AML/CFT obligations.