Malta Gaming Authority increases gambling transparency
Maltese gaming regulators are introducing a new regulatory scheme aimed at increasing transparency and providing operators with a new apparatus for reporting suspicious transactions. The Malta Gaming Authority’s (MGA) move is line with a move towards greater transparency by regulators across the globe.
The Suspicious Betting Reporting Mechanism (SBRM) will be made available to MGA-licensed operators at the end of the month and is set to be fully operational by January 22. Most operators are on board with the SBRM and likely welcome the new reporting workflow as an enhancement to their own compliance operations. That said, use of the SBRM is optional until January, but will be required by law thereafter.
An MGA commented on the new mechanism in a statement reported on by InsiderSport.com saying, “As already reiterated throughout this consultation process, the MGA’s SIU is adamant to continue increasing its collaboration efforts with both its licensees and other stakeholders interested in safeguarding the integrity of sports and sports betting.
“Hence, the MGA’s SIU intends to continue discussing potential policy initiatives with its licensee via consultation processes, whilst also looking to start organising workshops, bi-annual round tables and a Sports Integrity forum involving all stakeholders.”
Though Malta is isolated from the rest of the world geographically, it intends the SIU to be an international tool. “The Authority will require licensees to describe the markets on which suspicious activity has occurred and the country from which the account behind any suspicious activity was accessed. Licensees must also inform the MGA of the time at which the bets were placed, as well as providing account information, and any evidence to support why the activity is considered suspicious, as well as listing all other bodies that have been notified of the potential breach.”