Effective as of July 20

Malta Gaming Authority issues new directive on AML and CFT

The MGA said B2Cs holding a licence before the coming into force of this directive have been afforded a two-month transitory period to align with the requirements specified in the directive.
2020-07-17
Reading time 43 seg
B2C licensees must ensure that at least one of the Key Function Holders vested with exercising the Key Function of the Prevention of Money Laundering and the Financing of Terrorism must also be a FIAU-registered Money Laundering Reporting Officer in accordance with the procedures laid down in the directive.

The Malta Gaming Authority (MGA) issued Friday the Directive on the Key Function of the Prevention of Money laundering and the Financing of Terrorism. 

From the coming into force of Directive 3 of 2020, B2C licensees shall ensure that at least one of the Key Function Holders vested with exercising the Key Function of the Prevention of Money Laundering and the Financing of Terrorism must also be a FIAU (Financial Intelligence Analysis Unit)-registered MLRO (Money Laundering Reporting Officer) in accordance with the procedures laid down in the directive.

The directive is effective as of Monday, July 20. However, the MGA said B2Cs holding a licence before the coming into force of this directive have been afforded a two-month transitory period to align with the requirements specified in the directive.

Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR