Malta’s Financial Intelligence Analysis Unit (FIAU) has warned that too many remote gaming operators only collect data that “add no value” for some high-risk players in conducting anti-money laundering (AML) checks.
The unit said that all sectors, including remote gaming, saw an increase in suspicious transaction reports related to money laundering in recent years, in an enforcement factsheet covering 2019 and 2020.
Gaming, it noted, was listed alongside banking as the two “main contributors”. However, this increased reporting of suspicious activity was seen as a positive, rather than negative, development.
The total number of suspicious transaction reports across all sectors in 2020 was 5,090, up from 1,668 in 2018.
The report highlighted certain failings by some remote gaming operators related to anti-money laundering checks.
It said a number of investigations into gaming operators found that these operators often only gathered details that “add no value” in building a customer’..