Gaming Company slapped with €2.34 million fine by Malta Gaming Authority
Blackrock Media Limited paid €2.34 million fine

The Malta Gaming Authority has slapped Blackrock Media Limited with a hefty fine of €2.34 million for operating a gaming service through a Maltese legal entity without being in possession of the necessary authorization.

Blackrock Media, which is a subsidiary brand of Netherlands based Blackrock Entertainment, violated Article 25 of the Maltese Gaming Act. The penalty has already been paid out by the Blackrock Media.

A joint investigation led by the MGA and executive police revealed that Blackrock Media Limited was processing payments to and from players as part of the unauthorized gaming service.

The Parliamentary Secretary for Financial Services, Silvio Schembri, said this is the biggest-ever fine issued by the MGA to date. The country is being vigilant against all forms of unauthorized gambling, and the recent penalty on Blackrock Media Limited is a testimony of the fact the government is committed to ensuring compliance and tackling money laundering and terrorist financing crimes.

Lately, the authorities and the government of Malta have been receiving criticism for being lax in implementing strong AML measures.

Source –CASINO.BUZZ

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