There has been a delay in the introduction of the new Gaming Act in Malta due to recommendations from the European Commission.
The new law was due to come into effect on July 1 but there will be a delay of at least a month while comments from the EC and a fellow EU member state concerning the regulatory framework are analysed.
The new law will give the gaming board in Malta greater powers to tackle money laundering, as well as simplifying the issuing of licences and increasing player protection.
It also brings together land-based and online gambling within one set of regulations.
The Financial Intelligence Analysis Unit today issued the Implementing Procedures - Part II addressed to the remote gaming sector.
This document focuses, and provides guidance, on certain aspects of the Prevention of Money Laundering and Funding of Terrorism Regulations, which warrant further elaboration at industry-specific level to ensure that they are understood and interpreted consistently by licensees.
The Implementing Procedures - Part II for the remote gaming sector were drawn up in conjunction with the Malta Gaming Authority and following due consultation with the relative sector.
