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MGA: Malta’s 2023 National Risk Assessment Released

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Malta’s 2023 National Risk Assessment (NRA) has recently been published, providing a comprehensive assessment of the country’s exposure to threats and vulnerabilities stemming from money laundering, terrorist financing, proliferation financing and targeted financial sanction risks.

The NRA holds significant relevance for subject persons, providing them with crucial insights into existing risks and enabling them to effectively adjust their compliance approach and risk mitigation strategies.

Coordinated by the National Coordinating Committee on Combating Money Laundering and Funding of Terrorism (NCC), the NRA was developed in close collaboration with all government authorities involved in the fight against financial crime and representative bodies from the private sector.

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Key findings from the NRA include:

  • Malta’s overall money laundering residual risk has decreased when compared to the 2018 NRA, reflecting the effectiveness of mitigating measures implemented by authorities and the private sector.
  • Notable improvements were registered across a number of sectors, including legal persons, trust and company service providers, banking, investment services, accountants and auditors, gaming and virtual financial assets service providers.
  • Other sectors, in particular financial institutions, real estate agents and dealers in high-value goods, also registered lower levels of risk. Nevertheless, compared to others, these sectors are susceptible to a higher risk of money laundering.
  • Some of the higher risks identified include laundering proceeds from drug trafficking, foreign organised crime and fraud (including cybercrime).
  • Money laundering typologies presenting a higher level of residual risk include the abuse of cash and cash-based businesses, the use of Maltese registered companies lacking sufficient links to Malta, complex corporate structures and the acquisition of high-value movable and immovable property.
  • Residual risks associated with terrorism financing, proliferation financing and targeted financial sanctions were found to be moderate.

All subject persons are obliged to consider the risks identified in this latest version of the NRA as part of their risk assessment process, reviewing and updating their controls, policies and procedures as necessary to reflect and mitigate the identified risks.

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Malta

NuxGame enhances payment provision through Apcopay partnership

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NuxGame, the experienced betting and iGaming software provider, is enhancing its online casino platform with the addition of Apcopay, the fully integrated payments provider.

The collaboration will see NuxGame’s platform benefit from Apcopay’s all-in-one solution. This provides partners with everything they need for multi-channel and multi-currency payment options, all through a single interface allowing customers easier access to an operator’s platform and reducing barriers to entry.

Malta-based Apcopay’s solution is designed to cater for high transaction volumes, scalability and continuous improvement, furthering NuxGame’s mission to offer operator partners worldwide with highly stable, secure and localised payment options.

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The latest partnership is further evidence of NuxGame’s commitment to broadening its capabilities, adding leading global payment processors and empowering players to purchase cryptocurrency directly on the platform.

NuxGame recently gained its GLI-19 Certification, accredited in recognition of the platform’s adherence to the highest technical standards and further demonstrating its commitment to responsible gambling.

Denis Kosinsky, Chief Operating Officer at NuxGame, said: “Apcopay’s fully integrated solution presents us with a huge range of additional payment options worldwide, significantly improving the offering we present to our operator partners.

“We are committed to giving our clients the widest range of scalable and stable payment services, as we continue to operate at the forefront of platform technology.”

The post NuxGame enhances payment provision through Apcopay partnership appeared first on European Gaming Industry News.

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Malta

SBC Expands Presence in Malta with New Office Inauguration

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Events and media company SBC is expanding its presence in Malta by inauguring its office on the island. This move underscores the company’s commitment to bolstering its footprint in the iGaming hub, which has been home to one of its events, the CasinoBeats Summit, for the past six years.

While CasinoBeats Summit debuted in London in 2018 and held its second edition in the UK capital the following year, 2019 marked a significant shift as the Summit expanded with a Malta version. In addition, 2019 also saw the inception of the first “Malta Baby” party, highlighting the company’s deepening commitment to the iGaming community that is based in Malta.

Since the inception of the CasinoBeats Summit, the growth trajectory of the event has been remarkable, evidenced by the surge in delegate numbers, with an anticipated 4,500 attendees expected at this year’s event, scheduled to take place at the InterContinental Hotel from 21st to 23rd May.

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Rasmus Sojmark, CEO & Founder of SBC, said: “Malta holds a special place as the hub of iGaming, which is why it is also the destination for the CasinoBeats Summit. Many of our clients and friends call Malta home, and it’s important for us to further strengthen our ties with the community.”

SOHO The Strand, the premier co-working business hub where Malta-based employees will be stationed, welcomed its inaugural members in October 2019. With a stylish, Scandinavian-inspired design spanning four distinct levels, this centre offers a plethora of amenities. From a sauna and gym to an on-site bar and restaurant, members lounge, gaming area, terraces, and beyond, it provides the perfect fusion of work and leisure.

“When we were scouting for office space, our priority was to pick an environment that would be ideal for networking and a great base for our Malta-based team members who have been working remotely till now. While we’ve already worked with SOHO on hosting gatherings previously, becoming members ensures our meet-ups will be even more frequent, so stay tuned!” Sojmark added.

Currently, with 130 employees and expanding globally, the new Malta office will operate alongside SBC’s established bases in London and Manchester. With members from the sales, relationships, and content marketing teams stationed on the island, the company boasts a robust presence of client-facing roles in the Malta office:

  • Brandon Spiteri, Affiliate Relationship Manager
  • Dafne Salvatori, Head of Event Design & Branding
  • Maria (Masha) Tsnompilantze, Head of Content Marketing
  • Sharon O’Neill Libreri, Sales Manager
  • Sabrina Sammut, Operator Relationship Manager

Ivan Filetti, CEO of GamingMalta welcomed SBC to his home country: “Malta’s status as the ‘Home of Gaming Excellence’ owes much to the calibre of thought leadership events held on our shores. SBC’s CasinoBeats Summit epitomises our fruitful partnership, driving forward the expansion of the industry locally and globally.

“We are thrilled to learn of their decision to establish operations here, reaffirming their commitment to maintaining a robust connection with Malta year-round. This move underscores Malta’s pivotal role in the gaming ecosystem and strengthens our position as a premier destination for gaming thought leadership and collaboration.”

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As of the 2nd of May, the office commenced its operations, three weeks ahead of the 2024 edition of the CasinoBeats Summit. SBC extends an invitation to companies already part of the SOHO community to visit and greet the Malta team at Office 19, located on Level 3 of the Strand.

SBC will celebrate the office opening during the Official Networking Party at the Infinity by Hugo’s on Wednesday, the 22nd of May.

The post SBC Expands Presence in Malta with New Office Inauguration appeared first on European Gaming Industry News.

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Malta

White Label Casinos Forms Team of Directors to Spearhead Ambitious Growth Plans

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White Label Casinos, the go-to provider of white-label casino solutions to the iGaming industry, has strengthened its senior management team to spearhead its focus on strategic growth throughout 2024 and beyond.

This new team of directors was formed following the creation of four roles, all of which make a strong senior management team led by Phil Pearson, Chief Executive Officer for White Label Casinos.

Sandra Bartolo has been appointed Director of Product and Regulatory, Jordan Foxwell as Director of Internal Operations, Debbie Cooper as Director of Client Operations and Miguel Coca Lasen as Director of Finance.

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All four directors that make up this new team have been promoted internally having excelled in their roles since the company’s formation in February of 2023. This move showcases White Label Casinos’ commitment to people by leveraging its talented and experienced workforce.

The team will be tasked with leading the company as it focuses on continued growth, increasing both the number of verticals and solutions it offers in order to better serve its current and future clients and players.

“This is an incredibly exciting time to be part of White Label Casinos,” the Director of Finance for White Label Casino, Miguel Coca Lasen, said. “The brand has gone from strength to strength since launching and the formation of this new senior management team really underpins our long-term commitment to growth and success.

“The fact that the team is comprised of people who have already been at the company in some capacity shows that we have what it takes to get the very best out of each other to continue delivering a market-leading service.”

“We launched the White Label Casinos brand in 2023 and it’s now time we put the gears on and grow further,” the Chief Executive Officer for White Label Casino, Phil Pearson, said. “We have a number of projects in the pipeline; business areas, platforms, payments and a new team structure that will help us face any challenges and changes the industry throws our way over the next few years.”

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The post White Label Casinos Forms Team of Directors to Spearhead Ambitious Growth Plans appeared first on European Gaming Industry News.

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