MGA Renews MoU with Alderney’s Gambling Regulator
Date: 2024-01-05 Author: Dima Zakharov Categories: EVENTS, PEOPLE
Renewing Commitment for a Safer Gaming Environment
The Malta Gaming Authority (MGA) has announced the renewal of its Memorandum of Understanding (MoU) with the Alderney Gambling Control Commission (AGCC), marking a significant step in the world of gaming regulation. This partnership, established in 2013 and now extended into 2024, emphasizes their shared commitment to ensuring a safe and responsible gaming environment for all.
Enhancing Collaboration for Common Goals
The renewed MoU underscores the alignment of values between the MGA and AGCC, enabling them to work more effectively together. By pooling their resources and expertise, these regulatory bodies aim to strengthen crime prevention measures, improve consumer protection, and provide additional safeguards for vulnerable demographics susceptible to gambling addiction.
Global Emphasis on Regulatory Collaboration
The collaboration between the MGA and AGCC reflects a broader industry trend emphasizing international cooperation among regulatory bodies. Joint efforts to combat addiction, illegal gambling, and gambling-related crime are gaining prominence. This partnership echoes calls from the UK Gambling Commission for cross-border regulatory alliances.
Alderney's Growing Influence
While smaller than some gaming hubs like Malta and Curacao, Alderney is on a path to expand its presence in the gaming industry. As a British Crown dependency within the Bailiwick of Guernsey, Alderney serves as an offshore licensing jurisdiction and sees potential for growth in the sector.
Positive Reactions from Industry Leaders
MGA's Chief Executive Officer, Carl Brincat, expressed his satisfaction with the MoU's renewal, emphasizing their dedication to supervising a secure gaming ecosystem. Andrew Gellatly, the AGCC's Executive Director, echoed this sentiment, highlighting the mutual benefits for players and stakeholders resulting from this collaboration.
Monitoring Money Laundering and Terrorism Financing
Notably, Alderney's money laundering and terrorism financing risk profile has been raised, following concerns expressed by the European Commission. This development underscores the importance of effective regulatory partnerships in addressing evolving challenges in the gaming industry.
