The Financial Intelligence Analysis Unit (FIAU) and the Malta Gaming Authority (MGA) earlier today jointly published a consultation document on the forthcoming application of anti-money laundering and combatting the funding of terrorism (AML/CFT) requirements to holders of licences to operate games of chance and games of chance and skill via means of distance communication (licensees). These obligations will enter into force by virtue of the transposition into Maltese law of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.
The purpose of this consultation document is to provide a general explanation of the main AML/CFT obligations and a general outline of how licensees will be expected to comply with these obligations. This document will serve as the basis for a more detailed sector-specific guidance document that will be issued at a later stage following due consultation with the remote gaming sector. The document is divided into five main sections, each of which corresponds to what is considered by the FIAU and the MGA as being the main AML/CFT obligations of subject persons.
Licensees are strongly encouraged to read this document in conjunction with the Directive as well as with Part I of the current Implementing Procedures. While the transposition will inevitably result in changes to the Implementing Procedures, the general content thereof is unlikely to undergo any major change.
Licensees and other interested parties are invited to submit any feedback they may have in relation to this document on the email address provided hereunder. This document, together with the feedback received, will form the basis of the sector-specific guidance to be issued by the Authorities.
Submissions may be made on [email protected] until the 11th of August 2017.