Further to the transposition of the Fourth Anti-Money Laundering Directive into Maltese Law, the wide ranging consultations carried out between the FIAU and the MGA including the publication of the AML/CFT supervisory mechanisms carried out last year, the MGA would like to inform all its licensees and subject persons that a new Anti-Money Laundering Unit has now been set up within the authority’s operational and regulatory structures.
This new unit, which is now fully operational, will be conducting AML/CFT supervisory assessments through on-site and off-site inspections and will report any findings to the Financial Intelligence Analysis Unit (FIAU). The team of AML officers within this unit have been given extensive training by local and international experts in AML/ CFT activities in order to make sure that the new team has the necessary capability, skill and capacity to conduct effective off-site and on-site assessments for all licensees both land based and remote. With the transposition of the 4th AML Directive into Maltese Law, some on-site examinations shall be carried out jointly with the FIAU.
Furthermore, the authority has drawn up an AML/CFT supervisory plan for 2018 which includes a significant number of on-site visits to both land based and remote gaming operators. The MGA has also conducted an organisation wide AML/CFT training programme with the help of experts in the field in order to ensure that there is sufficient organisation-wide knowledge with respect to AML/CFT.
The authority shall continue to enhance its collaboration with the FIAU to ensure an effective AML/CFT framework coupled with the required levels of co-ordination and scrutiny across public and private bodies.