Connect with us
SIS

Mediterranean Europe

MGA and MPF Enters into Memorandum of Understanding

Niji Narayan

Published

on

MGA and MPF Enters into Memorandum of Understanding
Reading Time: 1 minute

 

Malta Gaming Authority (MGA) has entered into a Memorandum of Understanding (MoU) with Malta Police Force (MPF) to improve the efficacy of co-operation and strengthen the exchange of information with regards to gaming operations.

“This Memorandum of Understanding will continue to strengthen the good relationship there is between the MGA and the MPF. Apart from having a closer collaboration, through this MOU, both parties are also agreeing to share their respective knowledge and to formally provide technical training to each other. This agreement is testament to the ongoing efforts of the two entities in continuing their fight against illegal gaming activities in Malta,” MGA’s CEO, Heathcliff Farrugia said.

“In an ever-changing complex world, policing has become more challenging, necessitating the establishment of solid partnerships with other government agencies and NGOs as well as with society in general, this in order to ensure effective law enforcement throughout. The signing of this MOU with the MGA is one in a string of initiatives which the Malta Police Force under my charge has embarked upon over the past months aimed at combating criminality in general whilst it goes to show our strong commitment to tackle two of the most challenging crime categories, namely financial and computer-related crime,” Commissioner of Police, Lawrence Cutajar said.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

Continue Reading
Advertisement
Comments

Compliance Updates

MONEYVAL Criticises Malta for Failing to Act Against Financial Crimes

Niji Narayan

Published

on

MONEYVAL Criticises Malta for Failing to Act Against Financial Crimes
Photo Source: newstatesman.com
Reading Time: 1 minute

 

Anti-money laundering body, MONEYVAL has sharply criticised Malta for inadequately tackling financial crimes, in a report highlighting the risks of banking and online gambling sectors. The report is a setback for the island that has sought to repair its reputation following the murder of a journalist investigating corruption.

Moneyval said that the Maltese police seldom used information gathered to trace criminal money and not enough was being done to tackle money laundering risks in online gambling.

A group of Maltese ministers issued a statement to say they were happy with the progress that the country had made so far and they would prepare a one-year plan to implement Moneyval’s 58 recommendations.

Moneyval said that although the country had tried to better understand money laundering risks, investigations were hampered by “limited resources, both human and financial.”

Moneyval added they were “not convinced” Maltese police could effectively investigate and prosecute “cases related to financial, bribery and corruption offences.”

Continue Reading

eSports

Malta’s Quickfire Undergoes Rebranding

Niji Narayan

Published

on

Malta’s Quickfire Undergoes Rebranding
Reading Time: 1 minute

 

Quickfire, the leading esports organisation based in Malta, has officially announced its rebranding campaign. The company is changing its name to Eden Esports. Eden Leisure Group CEO Simon De Cesare said: “We’ve decided to take this important rebranding decision with the aim to have Eden Esports become more in line with Eden Leisure Group’s identity and make it align more cohesively with the rest of the Group.”

Eden Leisure Group, Eden Esports’ mother company, is Malta’s is the biggest company in the entertainment sector. It has 11 business units, including the InterContinental Malta and the Holiday Inn Express, Casino Malta, Cynergi Health and Fitness Club, Eden Cinemas, Eden SuperBowl, food beverage outlets such as Paranga, Waterbiscuit and SkyBeach among other interests.

Their portfolio of events include the Supernova CS:GO Malta, Malta’s first tier-1 esports event, which offered $150,000 to 8 of the best teams in Counter-Strike: Global Offensive and obtained over 29 million views. The Malta Esports Forum, Malta’s very first B2B esports event, bringing in some of the esports industry’s foremost thinkers and speakers to discuss various topics of interest. The Hotshot Series, an online CS:GO tournament series for the European continent that obtained over 5 million views and gave out $80,000 over 4 editions. The Nova Series, Malta’s largest LAN party event that has just past its fifth edition.

Continue Reading

Compliance Updates

MGA launches Phase 2 of its Sandbox Regulatory Framework

George Miller

Published

on

MGA launches Phase 2 of its Sandbox Regulatory Framework
Reading Time: 2 minutes

 

Following the implementation of the first phase of the Sandbox Regulatory Framework as of 1 January 2019, which established the possibility for authorised persons to be allowed to accept Virtual Financial Assets (VFAs) as a means of payment, the Malta Gaming Authority (MGA) is announcing the launch of the second phase of the Framework. During this phase, the MGA will be accepting applications for the use of Innovative Technology Arrangements (ITAs), including Distributed Ledger Technology (DLT) platforms and smart contracts.

Further to the aforementioned, the MGA shall be extending the duration of the Sandbox Regulatory Framework until 31 December 2021. The Guidance on the use of Innovative Technology Arrangements and the acceptance of Virtual Financial Assets and Virtual Tokens through the implementation of a Sandbox Environment has been amended, in order to reflect the developments that have taken place in relation thereto. The Licensee Relationship Management System (LRMS) has been updated to the effect that both prospective and existing licence holders are now able to apply for the MGA’s approval in order to integrate ITAs within their operation.

ITAs shall be required to be audited by auditors registered with the Malta Digital Innovation Authority (MDIA) in terms of the Innovative Technology Arrangements and Services (ITAS) Act (Chapter 592 of the Laws of Malta), and shall only be accepted by the MGA if the audit report consists of a positive opinion and the MGA is satisfied that the regulatory requirements shall be adhered to by the authorised person.

An approval to participate in the Sandbox Regulatory Framework is conditional on the applicant holding the relevant licence issued by the MGA, without prejudice to any other regulatory requirements stemming from other applicable legislation, including but not limited to, the Virtual Financial Assets Act (Chapter 590 of the Laws of Malta) and the regulations issued thereunder.

Kindly contact the Innovation Team on innovation.mga@mga.org.mt for any queries related to the above.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.