A couple of weeks ago, a article was published by Malta Today that talked about 29 different suspected money laundering transactions that were referred to both Malta’s police department and the financial intelligence analysis unit throughout 2013.
As part of our anti-money laundering compliance procedures and controls we continuously monitor our licensees for any suspected transactions to ensure that Malta remains a reputable jurisdiction for remote gaming.Joe Cuschieri, Chief of the Lotteries and Gaming Authority in Malta
They found out that the majority of these cases were based around foreign companies who use Maltese based companies and banks to launder money they had made overseas illegally. They noted that some of the companies that were under investigation also held gaming licenses from the Lotteries and Gaming Authority of Malta.
Joe Cuschieri, chief of the Lotteries and Gaming Authority in Malta has since commented on the article and has said that they work closely with the financial intelligence analysis and local police in any suspected money laundering cases that surround their licensed online gaming sites.
He also pointed out that the report that Malta Today published was all based upon suspected transactions and that there was no solid proof that any criminal activity of money laundering had taken place inside the online gaming industry in Malta.