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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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