Kpmg Malta eSummit, Farrugia (Ceo MGA): “Licensed operators need to anticipate regulatory intervention in terms of gaming”

“Licensed operators need to anticipate regulatory intervention by adopting a proactive approach towards compliance”. Is this the recipe Malta Gaming Authority’s CEO, Heathcliff Farrugia, expressed during the KPMG Malta eSummit, a focus on the gaming industry that compared experts in the sector. Also present at the event Francesco Rodano, Chief Policy Officer of Playtech, who spoke of the opportunities represented by the South American markets. “South America is not so different from Europe – he said – there are many similarities with Europe ten years ago. We expect Governments to make reasonable decisions in terms of gambling. It’s not enough just the rules for those who have obtained a license, but it also needs to protect the market with measures against those who offer an untaxed and unrestricted product. This is a complex process, but in any case we are trying to support governments in regulating the sector in Brazil, Colombia, Peru , Chile, Paraguay and Panama”. Money laundering and match fixing were also discussed during the event. “Money Laundering Reporting Officer (MLRO) should be fully empowered to take the necessary actions against money laundering e terrorist financing in line with the organisation’s risk appetite”, said MGA’s Head of AML e Compliance, Joseph Attard. “The manipulation risks around esports naturally spill over unto the customer’s experience in the betting world. Operators should make sure to offer bets only on professional events of the highest standard”, said MGA’s Chief Counsel International Affairs and Policy, Michele Magro. lp/AGIMEG