Compliance Updates
BDO Malta becomes MGA-approved service provider for gaming licencees
BDO, a Malta-based corporate services firm specializing in accounting, auditing and tax consultation verticals, has obtained the approval by the Malta Gaming Authority to act as an official Service Provider for System and Compliance Auditing. The required System and Compliance Auditing is mandatory for gaming operators in Malta as per the regulations.
BDO and its Technology Advisory and Assurance team obtained the approval after passing through a review based on specific criteria as laid out by the Authority. BDO have a tech team comprising CISA qualified individuals with years of experience in servicing the gaming industry.
BDO assisted a number of gaming companies over the years with their licencing application, policies and procedures, renewals, Key Official roles and ongoing matters pertaining to their licence conditions Mark Attard CEO and Partner of BDO Malta said:
“We are delighted that BDO Malta have been given the authorisation to act as Service Providers. This is undoubtedly another seal of approval by the regulator of the world’s iGaming capital and the latest offering we are adding to our service portfolio, as part of our growing Technology Advisory and Assurance service line. We are now able to offer our gaming clients a fully integrated service, with them safe in the knowledge that we adhere to the highest standards as laid down by the Malta Gaming Authority. BDO Malta and all of our team is committed to ensuring that Malta retains and evolves further, its reputation as a jurisdiction of excellence for iGaming and associated industries.”
Compliance Updates
Veikkaus Fined €2.9M for Advertising to Minors
In May 2024, Finnish Operator Veikkaus received a request for clarification from the Police Board about its advertising in connection with television programmes that are also watched by minors. The company responded to the clarification request and adjusted its operations in cooperation with the authority. As a result, Veikkaus’ advertising will no longer appear in certain programme environments.
Veikkaus has received a marketing ban from the Police Board dated 12 November 2024 enhanced by a fine. It refers to the clarification request from May and highlights the wrongly placed advertisement that happened in July as a violation. In addition to this, it brings out new perspectives on the placement of advertisements in connection with television programmes. They have now included new programmes aimed at adults, but may also be of interest to minors. Examples include popular Saturday night entertainment programmes.
“It seems that the Police Board may interpret the matter in a new and broader way. We have been in contact with the Police Board as soon as the decision was made and we are going through this issue with them. We need clarity so that we know how to act correctly,” Anu Kytö, sales and marketing director at Veikkaus, said.
“We are very sorry that, despite our joint development measures, our advertising has been seen in the advertising breaks of programs aimed at minors due to human error,” Kytö added.
Veikkaus’ advertising is bought in such a way that the target group is people aged 25 and over. The media office books and the television channel places the ads based on viewer profiles. The instructions have been reviewed together with the Police Board.
“Veikkaus has been buying TV advertising from us for years, with an age distribution set for the purchase: more than 70% of the program’s viewers must be adults. This is a jointly agreed model that has been valid for years and is known to the authorities. Now we are waiting for possible new instructions,” MTV’s commercial director Sauli Asikainen said.
The ban is valid for three months and its validity begins 30 days after notification. The Police Board imposed a fine of 2.9 million euros as an effect of the marketing ban.
Compliance Updates
Snooker Player Mark King Banned for 5 Years for Fixing Match and Providing Inside Information
English snooker player Mark King was handed a five-year ban on Friday after being found guilty of match-fixing and providing inside information in the latest corruption scandal to blight the sport.
The punishment for the 50-year-old King, who reached a career-high ranking of No. 11 in 2003, related to a match against Joe Perry at the Welsh Open played on Feb. 13 last year that was flagged following suspicious betting patterns.
King was suspended by snooker’s world governing body a month later and an independent disciplinary commission has ruled that he fixed the result of the match, while giving information to others about that match for betting purposes. He had denied the charges.
His ban ends after March 17, 2028, and King was also ordered to pay more than 68,000 pounds ($86,000) in costs.
“I have known Mark King since he was very young, he is a very experienced player who has enjoyed great success, and I am deeply saddened to read the finding in this case,” said Jason Ferguson, a former player who is now chairman of the World Professional Billiards and Snooker Association. “However, the integrity of this sport will always be our No. 1 priority.”
King had also been charged with fixing the outcome of a match against John Higgins played on Dec. 13, 2022, and for providing inside information on it. Those charges were dismissed.
The governing body said Perry and Higgins were not accused of any misconduct related to the case.
Compliance Updates
Spillemyndigheden Calls Attention to FATF’s Updated Lists of High-risk Jurisdictions
The Danish Gambling Authority has called attention to FATF’s (Financial Action Task Force) updated lists of high-risk jurisdictions: the Grey List (jurisdictions under increased monitoring) and Black List (call for actions). Among other things, gambling operators must include FATF’s lists of high-risk jurisdictions when risk assessing players.
Jurisdictions listed on the Grey List are Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, the Ivory Coast, Croatia, DR Congo, Haiti, Kenya, Lebanon, Mali, Monaco, Mozambique, Namibia, Nigeria, the Philippines, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam and Yemen.
Jurisdictions listed on the Black List are Democratic People’s Republic of Korea, Iran and Myanmar.
Gambling operators are required to conduct enhanced customer due diligence (EDD) pursuant to section 17(1) of the Danish AML Act, if a player is assessed to impose a higher risk of the gambling operator being misused for money laundering or terrorist financing.
Gambling operators shall conduct this risk assessment based on Annex 3 to the AML Act (high-risk factors) which includes the FATF high-risk country lists (the so called black list and grey list).
It is not required that gambling operators perform EDD if a country is listed on the FATF’s list. EDD are only a requirement for players from jurisdictions listed in the EU Regulation of High Risk Third Country list pursuant to 17(2) of the AML Act.
-
Asia6 days ago
Hong Kong Construction Titan Turned Macau Casino Boss Lui Che-Woo Dies Aged 95
-
Asia6 days ago
Making Indian Presence Felt: Natural8 India gears up to take a contingent of nine winners of its latest India Exclusive to Asian Poker Tour (APT) Phu Quoc!
-
Conferences in Europe6 days ago
The iGaming Conference Boom: A Catalyst for Industry Growth or Event Overload?
-
Asia6 days ago
Nazara integrates with ONDC Network to Launch “gCommerce” in India, Unlocking a new era of In-Game Monetization
-
Latest News7 days ago
TOGETHER ON THE ROAD TO GLORY: TotoGaming x CFR Cluj
-
Latest News7 days ago
UK Gambling Commission Launches Gambling Harms Action Lab
-
Latest News7 days ago
bwin Becomes “Official Betting Partner of the NFL” in Germany and Austria
-
Sports Betting6 days ago
Swifty Global Announces Launch of Swifty Sports IE, Expanding Sports Betting and Casino Services in the Irish Market