MGA and UKGC Strengthen Partnership to Combat Illegal Gambling
The Malta Gaming Authority (MGA) and the UK Gambling Commission (UKGC) have officially formalized their Memorandum of Understanding (MoU), marking the start of a new phase of cooperation.
MGA and UKGC finalize Memorandum of Understanding to fight against black market.
LISTEN TO THIS ARTICLE:Combating the Black Market’s Growth
The agreement will boost collaboration on several issues, including efforts to tackle the black market. Recently, the UKGC introduced a new approach to better measure the actual size of the gambling market in the UK. The methodology is designed to help the commission understand how to counter the flow of players towards unlicensed and illegal gambling platforms.
Now, these efforts will be further supported by increased information sharing between the MGA and the UKGC. The aim is to ensure both regulators are working together to protect consumers from both gambling-related harm and exposure to criminal activities.
There is also a broader push for regulatory harmonization on a global scale. For example, Australia’s Communications and Media Authority has repeatedly asked the Curacao authorities to improve the regulation of websites targeting Australian players without proper licensing.
We welcome this agreement as a sign of our continued collaboration between the MGA and the GC. We’ve been working closely for some time now, and following our successful visit this summer, it is only fitting that we formalise our working relationship.
Rhodes went on to say that the commission is committed to refining its mechanisms with the aim of improving standards across the global industry. This includes addressing shared challenges, such as illegal gambling, and cooperating with other regulatory bodies on issues such as anti-money laundering (AML) and sports betting integrity.
More Regulation News
Growing Global Collaboration Among Regulators
The formalized MoU between the MGA and UKGC is part of a larger trend that has seen increased global cooperation between industry regulators. Recently, the American Gaming Association, a US trade organization, also announced a partnership with its European counterparts, including the Betting and Gaming Council and the European Casino Association.
Charles Mizzi, the recently-appointed CEO of the MGA, welcomed the formalization of the MoU, noting that the two regulators have long maintained an “informal collaboration”, which has already led to “meaningful results”.
Mizzi said that they are confident the collaboration will help them address common challenges more effectively and enable them to continue improving the effectiveness of their processes and framework.
In addition to formalizing the MoU with the UKGC, recently, the MGA renewed an existing MoU with the Alderney Gambling Control Commission, further demonstrating its goal of international cooperation.
RELATED TOPICS: Regulation
Latest News
Most Read
China-Backed Real Estate Developer Ordered to Pay $1.6 Billion in Casino Fraud Case
Oct 23, 2024Must Read
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for MGA and UKGC Strengthen Partnership to Combat Illegal Ga