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Moneyval Publishes Report on Money Laundering Risks in Cyprus
The Council of Europe’s Moneyval anti-money laundering body has issued a report on money laundering risks in Cyprus. Moneyval identified a relatively new risk in Cyprus with the expansion of Melco’s operation, which opened its first casino in Limassol in 2018.
The report appeared to be suggesting that Cyprus consider not permitting the casino to expand until it can “responsibly manage” the risk associated with its current configuration. The Limassol integrated casino and resort is due to open at the end of 2021.
“The enlargement… will undoubtedly increase the ML (money laundering) and TF (terrorist financing) risks and require a number of further mitigation measures. For this reason, the casino was weighted fourth in terms of materiality,” Moneyval said.
“The casino is currently operating at or beyond the limits of its ML/TF compliance and risk management system. Cyprus should consider whether the casino can responsibly manage the ML/TF risk associated with its current configuration, and if not then whether the current configuration should be changed in ways that provide more certainty about effectiveness, such as to a membership model. In any event, until the casino can demonstrate an effective… programme at its current level of activity, Cyprus should consider not permitting it to expand that activity,” it added.
The Moneyval report said an action plan prepared by an outside consultant, which is nearing completion, would identify mitigating steps that are needed to address current deficiencies, “but it is unclear whether the plan is intended to identify steps that will need to be taken to accommodate anticipated growth,” it added.
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Top Online Casino Trends to Watch: Megapari’s Expert Analysis
The gambling industry is evolving rapidly, bringing new opportunities and challenges daily. To help affiliates maximize their earnings by focusing on what truly engages players, experts from Megapari discuss the latest trends and key developments shaping the future of the sector in their newest article.
Megapari Partners is an affiliate platform that welcomes traffic from more than 50 geographical regions. With revenue shares of up to 50%, as well as CPA and hybrid options, the platform boasts an active partner base of over 30,000 affiliates.
When discussing the evolution of online casinos, Megapari emphasized the ongoing growth in the popularity of crash games. Although the mechanics of these games are not new and have been recognized within the industry for some time, Megapari notes that their popularity continues to rise. Leading providers have adapted to the overwhelming demand for this category of slots by introducing their own variations of the crash game mechanics. Games like Aviator and Aviatrix have solidified their positions in the platform’s Top 5 most popular slots, combining high RTP with appealing graphics and captivating gameplay. Compared to Q4 2023, Megapari has observed an increase in the popularity of crash slots more than 60%, further confirming the hypothesis of the ongoing expansion of these types of games.
Additionally, Megapari’s experts point to the significance of the “retention” rate in clicker slots. These types of slots gained popularity during the first half of 2024, attracting players with their incredibly simple mechanics. While it may be too early to compare the popularity of clickers with that of crash games, Megapari believes that in the second half of 2024, the industry will likely witness further growth in this category of slots.
When it comes to classic and well-known mechanics, roulette games remain among the top preferences for players. American and European roulettes—classic games with familiar rules—continue to attract players with their straightforward and well-known gameplay. Despite the fact that roulettes have long been a staple among popular and widely recognized slots, Megapari has noted an increase in the popularity of this category of games, demonstrating that the appeal of classic games should not be underestimated.
Beyond the games themselves, the hardware used by players is also advancing, leading users to seek out slots with superior graphics. More and more providers are focusing not only on game mechanics but also on enhancing gameplay with visually stunning and immersive slots, such as Medusa by Spinomenal or Heist: Bank Rush. Complex animations and vibrant icons attract players, enriching their gaming experience with greater variety.
The post Top Online Casino Trends to Watch: Megapari’s Expert Analysis appeared first on European Gaming Industry News.
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