The partnership aims to enable both regulators to carry out their respective duties more effectively as money laundering threat on Channel Islands raised
The Malta Gaming Authority (MGA) and the Alderney Gambling Control Commission (AGCC) have renewed their Memorandum of Understanding (MoU).
The agreement, which was first entered into in 2013, aims to enhance cooperation between the two regulators to help the pair perform their “responsibilities more effectively”.
The pair will work closely together to promote international regulator cooperation in the wider igaming industry as part of the agreement.
Dr Carl Brincat, MGA CEO, said: “The renewal of the MoU with the AGCC continues to reaffirm our shared commitment towards supervising a safe and responsible gaming ecosystem across the board.”
Andrew Gellatly, executive director of the AGCC, added: “With this MoU, we look forward to continuing and strengthening our valued collaboration with the MGA, to the benefit of both players and stakeholders.”
The announcement follows a recent report by the Bailiwick of Guernsey that found that the risk of money laundering and terrorist financing in Alderney’s igaming industry has increased.
The Bailiwick of Guernsey is responsible for intermediate national risk assessments of such risks.
The last report by the agency in 2019 found that the risk of money laundering in Alderney was ‘medium lower’. Since then, the risk has risen to ‘medium’.
The report said that this increase stemmed from a European Commission report which looked at new threats in the industry and the “general perception” of the sector.
For this reason, the terrorist financing level was also increased from ‘much lower’ to ‘lower’.
Elsewhere, the MGA announced in December that Charles Mizzi will take over as its new CEO.
Mizzi will replace Dr Brincat on 26 January with Brincat stepping down after two years in the top role. Mizzi is joining the regulator after five years as the CEO of the Residency Malta Agency.