International edition
June 14, 2021

Effective as of July 20

Malta Gaming Authority issues new directive on AML and CFT

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.
Malta | 07/17/2020

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.

T

he 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.

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