MGA works with local regulators to improve compliance checks

  • 2 min read
MGA works with local regulators to improve compliance checks

Lately, the Malta Gaming Authority (MGA) has participated in several workshops with the goal of enhancing cooperation among regulators across different regions.

Targeted on the optimization of the inspection operations, the MGA’s against laundering of money inspection team collaborated with the Financial Intelligence Analysis Unit’s (FIAU) superintendence in a gathered seminar. Getting ready for various inspections was the main purpose. These two regulating bodies joined forces to strengthen coordination and rationalize the overall procedure.

According to Claudia Callus, the Head of Supervision at FIAU, close collaboration with deliberate partners is imperative for effectively combating money laundering. She emphasized that the FIAU is sure in the importance of such cooperation for achieving success in this regard.

She accentuated the significance of continued cooperation of FIAU and MGA in taking control over gaming operators’ AML/CFT pliability scope. Furthermore, she added that having a good personnel who comprehend one another’s effort is also essential for forceful AML/CFT control.

The Head of Financial Crime Compliance at MGA, Antonio Abdilla Zerafa expressed that the ongoing and robust companionship of the two regulators has a pivotal character in the AML/CFT observation for the industry.

He stated that the authorities arrange diverse seminars, make a before/after, to guarantee the most influential action of these engagements. The purpose of such seminars is to make sure that the regulators are well-prepared and equipped for their superintendence duties.

The two regulatory bodies having partnered with the third party, namely MFSA, underwent instruction proceedings on observant methods. The purpose was to make easier the exchange of valuable information among the reputable names.