The Malta Gaming Authority has signed an MoU with the Financial Intelligence Analysis Unit, aimed to mitigate financial integrity risks. The latest MoU will improve the sharing of information and co-operation between both parties to tackle money laundering.
The MoU was signed by Heathcliff Farrugia (CEO of MGA) and Jesmond Gatt (Chairperson of the FIAU).
In an interview, MGA’s Chief Executive, Heathcliff Farrugia, told he was delighted to sign such an important MoU with the Financial Intelligence Analysis Unit. “Our relationship with the FIAU has gone from strength to strength, particularly since the introduction of the EU’s 4th Anti-Money Laundering Directive”, he stated.
The Director of the FIAU, Kenneth Farrugia, said, “The MGA is a strategic partner of the FIAU in ensuring that the highest levels of AML/CFT compliance are applied across the gaming sector”.
The provisions of the MoU allow both the entities to discuss a line of approach of further co-operation in the area of AML/CFT. The MoU also includes training employees and entities licensed by the Malta Gaming Authority, especially to those who are appointed as Money Laundering Reporting Officer.