Malta Gaming Authority Cancels SFJL Holding's License Amidst Compliance Issues
Date: 2023-11-13 Author: Dima Zakharov Categories: EVENTS
Authority Takes Decisive Action
In a recent announcement, the Malta Gaming Authority (MGA) revealed the cancellation of SFJL Holding Ltd.'s authorization, effective November 8, 2023. This move followed the suspension of SFJL Holding's license back in August, which halted its online gambling services.
Immediate Compliance Requirements
The MGA has mandated that SFJL Holding promptly remove any mention of the Authority, aligning with Article 51 of the Gaming Act. Furthermore, the gambling operator is obligated to settle all outstanding compliance contribution fees within seven days of receiving notice from the MGA.
Ensuring Player Payouts
SFJL Holding must provide the MGA with a transaction report and relevant bank statements from their backend system. This step is crucial for verifying that all players receive their owed funds. The deadline for this requirement is also set at seven days.
A Series of Regulatory Actions
This latest development adds to a busy period for the MGA. Notably, the Authority recently refuted any association with kaiyin.io, emphasizing the falsehood of the claimed connections. In the past month, the MGA issued a license cancellation notice to AMGO iGaming for repeated breaches of regulations, allowing a 20-day window for a written response.
Right to Appeal
SFJL Holding, like AMGO iGaming, has the option to appeal the decision within 20 days before the Administrative Review Tribunal, as stipulated in article 43 (1) of the Gaming Act.
