New Provisions to Malta's Gaming Act to Strengthen the MGA Position
Published May 15, 2018 by Ivan P
New gaming provisions should come into force in July of 2018, giving the MGA much bigger powers to protect players and fight money laundering.
The Malta Gambling Authority (MGA) is one of the best known regulatory bodies in the world of online gambling, with a vast number of online casinos operating under licenses issued by the MGA. Recently, the country's Parliament has passed a new set of provisions to be included in the Gaming Act, which will see the regulator's power and influence over the licensee substantially increased.
More Protection for the Players
The new provisions included in the bill are aimed primarily at providing a better protection for the players and improving anti-money laundering policies. The MGA already plays the role of the supervisor and intermediary between the players and the operators but the country is getting ready to take things to a new level.
The new Player Support Unit will be established, with the sole goal of mediating disputes between the players and the gambling sites regulated by the MGA. Furthermore, stricter responsible gambling measures will be enacted for the existing and all new licensees.
Changes Coming Soon
Since these new provisions have already been passed by the Parliament of Malta, the final remaining step is having the EU member countries review the law and give their opinion. If there are no obstacles, the revamped Gaming Act should come into force in July of 2018 for all remote operators while land-based operators regulated in Malta will have time until January of 2019.
With these changes, all licensees will have to adhere to much stricter consumer protection laws, implement serious measures to help problem gambling, and be on the constant lookout for any suspicions transactions.
According to country's officials, this is a very important milestone for the MGA, which sets up solid foundations for the future, giving the regulator the power it needs to continue offering even better protection for the players and building a safe and properly regulated online gambling space.
