The UK Gambling Commission (UKGC) and the Malta Gaming Authority (MGA) have formalized a Memorandum of Understanding (MoU) aimed at enhancing collaboration to raise standards within the gaming industry.
The agreement signifies a commitment from both regulatory bodies to share intelligence and coordinate efforts to better protect consumers, prevent criminal activity, and safeguard vulnerable players from gambling-related harm.
The MoU, signed by the heads of both organizations, underscores the importance of international cooperation in addressing shared regulatory challenges within the global gaming sector, according to a press statement.
The MGA and UKGC plan to strengthen their regulatory frameworks through information exchange, joint monitoring, and the adoption of best practices, ultimately aimed at enhancing player protection.
Andrew Rhodes, CEO of the UK Gambling Commission, emphasized the importance of the newly formalized partnership, stating: “We welcome this agreement as a sign of our continued collaboration between the MGA and the UKGC. We’ve been working closely for some time now. It is only fitting that we formalize our working relationship.”
He added that the MoU would help tackle shared industry issues, including illegal gambling and money laundering. “We are keen to continue strengthening our efforts to raise standards across the industry, tackling common challenges such as illegal gambling, including initiatives like shadowing and addressing key issues in areas like AML and sports betting integrity,” Rhodes said.
MGA CEO Charles Mizzi said: “Our longstanding informal collaboration with the UKGC has already delivered meaningful outcomes, and the formalization of this cooperation is definitely a step in the right direction.
“In line with our regulatory objectives, we are confident that such collaboration will allow us to address common challenges more effectively, allowing us to continuously improve on the effectiveness of our processes and framework.”
The MoU comes as the UKGC prepares a study on the UK’s black market, scheduled for initial findings in spring 2025. The research is expected to provide a starting point for the Commission to understand the scale of the issue.
Original article: https://www.yogonet.com/international/noticias/2024/10/28/83135-uk-and-malta-regulators-sign-mou-to-strengthen-gaming-sector-oversight
