MGA to Introduce Detailed Player Protection Guidelines for Responsible Gambling
Malta Gaming Authority is set to introduce player protection guidelines after being placed on the FATF’s grey list due to money laundering concerns.
Last week, a “closed consultation” was launched by the Malta Gaming Authority (MGA), which will cover “licensees’ obligations regarding their responsible gaming policies and procedures and the introduction of five markers of harm that must be considered by licensees when determining effective measures and processes to detect and address problem gambling.”
The consultation will follow a review of its player protection directive by “an expert in the field”, as well as Malta Gaming Authority research and its Responsible Gaming Unit’s work.
Till 14 October, MGA licensees will get the time for responding to the proposals which it contains. In addition to that, these licensees can make certain changes to the Malta Player Protection Directive.
Only Malta Gaming Authority licensees may respond because the document is a closed consultation. Moreover, the gaming authority also reminded these licensees of the need of holding player funds as well as potential winnings.
Last month in the annual report, the MGA revealed that in 2021, it had cancelled merely seven licences. Furthermore, it did not issue any licence suspensions to anyone, down from 14 cancellations as well as three suspensions in 2020. Instead, more penalties have been issued by the regulator during the year.
In the year 2021, the Financial Action Task Force placed Malta in “grey list” over jurisdictions that may not be efficient enough and have certain loopholes in financial crimes controls such as money laundeirng concerns. However, the country has been removed from the list earlier this year.