After participating in several workshops, the Malta Gaming Authority aimed to improve cross-regulator cooperation in the fight against money laundering.
Recently, the regulator’s AML unit joined forces with the Financial Intelligence Analysis Unit to organize a workshop. The goal was to streamline the supervision process for compliance examinations conducted throughout Q1 of 2023.
Claudia Callus FIAU’s Head of Supervision explained the importance of working with strategic partners like the MGA to fight money laundering in Malta and terrorism financing.
She said: “Continuous collaboration between the FIAU, MGA and other regulatory bodies is essential in monitoring gaming operators’ compliance with AML/CFT. AML/CFT supervisors who are well-trained and understand their colleagues’ work and processes will be more effective.
The two entities also joined forces with the Malta Financial Services Authority for a training session of a full-day that focused on enhancing supervisory techniques and procedures to help organisations better conduct their compliance exams.
Rachel Bezzina, AML manager at the MGA, described the MGA AML unit’s structure, referencing both the examination process and the regulatory body’s goals for 2023.
Antonio Abdilla Zerafa of the MGA commented on the ways in which the two organisations could work together to increase collaboration.
